The stock of Walter Investment Management Corp (NYSE:WAC) is a huge mover today! About 173,740 shares traded hands. Walter Investment Management Corp (NYSE:WAC) has declined 39.45% since April 8, 2016 and is downtrending. It has underperformed by 45.10% the S&P500.
The move comes after 5 months positive chart setup for the $192.32M company. It was reported on Nov, 10 by Barchart.com. We have $8.77 PT which if reached, will make NYSE:WAC worth $111.55 million more.
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 the shares of WAC in a report on Friday, November 6 with “Underperform” rating. The stock has “Underweight” rating given by Barclays Capital on Wednesday, August 10. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Hold”. The stock of Walter Investment Management Corp (NYSE:WAC) has “Neutral” rating given on Monday, March 7 by Credit Suisse. The company was upgraded on Tuesday, September 8 by Zacks. The stock of Walter Investment Management Corp (NYSE:WAC) earned “Market Perform” rating by Keefe Bruyette & Woods on Monday, November 9.
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 Q2 2016. Its down 0.49, from 1.09 in 2016Q1. The ratio worsened, 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.
Teacher Retirement System Of Texas last reported 2,741 shares in the company. Blackrock Institutional Tru Co Na, a California-based fund reported 901,148 shares. Vanguard Gru last reported 0% of its portfolio in the stock. Blackrock Gp Ltd last reported 0% of its portfolio in the stock. Baker Street Cap Mngmt Llc, a California-based fund reported 8.68 million shares. Blackrock Fund Advsrs reported 489,882 shares or 0% of all its holdings. Pnc Svcs Grp Incorporated has invested 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC). The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Walter Investment Management Corp (NYSE:WAC). National Bank & Trust Of New York Mellon Corp, a New York-based fund reported 137,042 shares. Paradigm Capital Mngmt Ny, a New York-based fund reported 13,400 shares. The United Kingdom-based Barclays Public Ltd Co has invested 0% in Walter Investment Management Corp (NYSE:WAC). State Street Corporation accumulated 0% or 632,858 shares. Invesco Ltd accumulated 0% or 210,824 shares. The Ontario – Canada-based Fincl Bank Of Montreal Can has invested 0% in Walter Investment Management Corp (NYSE:WAC). Ladenburg Thalmann Ser Incorporated last reported 800 shares in the company.
Insider Transactions: Since August 24, 2016, the stock had 0 buys, and 1 sale for $27,451 net activity. Boyd Stuart Douglass had sold 8,780 shares worth $27,451 on Wednesday, August 24.
More notable recent Walter Investment Management Corp (NYSE:WAC) news were published by: Prnewswire.com which released: “Walter Investment Management Corp. Announces the Hiring of Alfred W. Young, Jr …” on October 17, 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: Prnewswire.com and their article: “Walter Investment Management Corp. Announces First Quarter 2016 Highlights and …” published on May 03, 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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