The stock of Walter Investment Management Corp (NYSE:WAC) is a huge mover today! The stock increased 12.78% or $0.46 during the last trading session, hitting $4.06. About 467,106 shares traded hands or 62.95% up from the average. Walter Investment Management Corp (NYSE:WAC) has declined 57.89% since February 26, 2016 and is downtrending. It has underperformed by 68.32% the S&P500.
The move comes after 6 months positive chart setup for the $149.23M company. It was reported on Sep, 30 by Barchart.com. We have $6.41 PT which if reached, will make NYSE:WAC worth $86.55 million more.
Analysts await Walter Investment Management Corp (NYSE:WAC) to report earnings on November, 3. They expect $-0.07 EPS, down 120.59% or $0.41 from last year’s $0.34 per share. After $-0.01 actual EPS reported by Walter Investment Management Corp for the previous quarter, Wall Street now forecasts 600.00% negative EPS growth.
Walter Investment Management Corp (NYSE:WAC) Ratings Coverage
Out of 5 analysts covering Walter Investment Management Corp (NYSE:WAC), 0 rate it a “Buy”, 2 “Sell”, while 3 “Hold”. This means 0 are positive. Walter Investment Management Corp has been the topic of 7 analyst reports since September 1, 2015 according to StockzIntelligence Inc. FBR Capital maintained Walter Investment Management Corp (NYSE:WAC) rating on Friday, November 6. FBR Capital has “Underperform” rating and $7 price target. The stock has “Market Perform” rating given by Keefe Bruyette & Woods on Monday, November 9. Barclays Capital maintained Walter Investment Management Corp (NYSE:WAC) rating on Wednesday, August 10. Barclays Capital has “Underweight” rating and $2 price target. Zacks upgraded Walter Investment Management Corp (NYSE:WAC) on Tuesday, September 8 to “Hold” rating. The firm earned “Neutral” rating on Monday, March 7 by Credit Suisse. The stock has “Hold” rating given by Zacks on Tuesday, September 1.
According to Zacks Investment Research, “Walter Investment Management Corp., headquartered in Tampa, FL, is a Mortgage portfolio owner and mortgage servicer specializing in subprime, non-conforming and other credit challenged mortgage assets. It is a residential mortgage servicing company with divisional offices located in Atlanta, Birmingham, Charlotte, Ft. Worth and Houston. The company holds licenses as a residential mortgage lender and/or servicer in over 30 states across the US, and presently has federal mortgage lending approval as a Title II Non-Supervised HUD Mortgagee. The portfolio primarily consists of mortgages on homes built by Jim Walter Homes, Inc. and its affiliated builders. The company is one of the few remaining organizations to provide portfolio servicing through a team of full-time field-based employees. It also operates mortgage advisory and insurance product lines of business.”
Insitutional Activity: The institutional sentiment decreased to 0.6 in 2016 Q2. Its down 0.49, from 1.09 in 2016Q1. The ratio dived, as 7 funds sold all Walter Investment Management Corp shares owned while 35 reduced positions. 9 funds bought stakes while 16 increased positions. They now own 35.05 million shares or 2.49% less from 35.95 million shares in 2016Q1.
State Board Of Administration Of Florida Retirement Systems last reported 0% of its portfolio in the stock. Ameritas Invest Inc last reported 0% of its portfolio in the stock. Millennium Mgmt Ltd Liability Company holds 100,198 shares or 0% of its portfolio. Legal & General Group Public Ltd Com last reported 22,247 shares in the company. California Public Employees Retirement has 421,700 shares for 0% of their US portfolio. California State Teachers Retirement Systems holds 39,131 shares or 0% of its portfolio. Mackenzie Fincl holds 10,000 shares or 0% of its portfolio. Rhumbline Advisers last reported 31,926 shares in the company. The Ontario – Canada-based Fincl Bank Of Montreal Can has invested 0% in Walter Investment Management Corp (NYSE:WAC). Vanguard Grp Inc has 0% invested in the company for 1.71M shares. New York State Common Retirement Fund holds 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 15,000 shares. Ladenburg Thalmann Financial Services accumulated 800 shares or 0% of the stock. Financial Bank Of New York Mellon Corp holds 137,042 shares or 0% of its portfolio. Moreover, Parallax Volatility Advisers L P has 0% invested in Walter Investment Management Corp (NYSE:WAC) for 29,916 shares. Royal Bank Of Canada last reported 504 shares in the company.
Insider Transactions: Since May 5, 2016, the stock had 3 insider buys, and 1 insider sale for $211,767 net activity. $23,400 worth of Walter Investment Management Corp (NYSE:WAC) was bought by Pappas James L. $27,451 worth of Walter Investment Management Corp (NYSE:WAC) was sold by Boyd Stuart Douglass on Wednesday, August 24. 21,505 Walter Investment Management Corp (NYSE:WAC) shares with value of $99,568 were bought by SCHNEIDER DAVID C. The insider DEMOLINA ALVARO G bought 25,000 shares worth $116,250.
More notable recent Walter Investment Management Corp (NYSE:WAC) news were published by: Prnewswire.com which released: “Walter Investment Management Corp. Announces First Quarter 2016 Highlights and …” on May 03, 2016, also Prnewswire.com with their article: “Walter Investment Management Corp. Announces Second Quarter 2016 Highlights …” published on August 09, 2016, Prnewswire.com published: “Walter Investment Management Corp. Announces Full Year And Fourth Quarter 2015 …” on February 29, 2016. More interesting news about Walter Investment Management Corp (NYSE:WAC) were released by: Moodys.com and their article: “Moody’s downgrades Walter Investment’s ratings” published on March 04, 2016 as well as Prnewswire.com‘s news article titled: “Walter Investment Management Corp. Announces Appointment Of Daniel Beltzman As …” with publication date: March 02, 2016.
WAC Company Profile
Walter Investment Management Corp., incorporated on June 10, 1997, is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Firm operates through three divisions: Servicing, Originations and Reverse Mortgage. The Firm service an array of loans across the credit for its own portfolio and for government-sponsored enterprises (GSEs), government agencies, third-party securitization trusts and other credit owners. The Firm originates residential loans that it sells to (GSE) and government entities through its consumer and correspondent lending channels. In addition, it operate several other businesses, which include managing a portfolio of credit-challenged, non-conforming residential mortgage loans; an insurance agency serving borrowers and credit owners of its servicing portfolio; a post charge-off collection agency, and an asset management business through its securities and exchange commission (SEC) registered investment advisor.
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