The stock of Walter Investment Management Corp (NYSE:WAC) is a huge mover today! About 301,486 shares traded hands. Walter Investment Management Corp (NYSE:WAC) has declined 27.88% since April 20, 2016 and is downtrending. It has underperformed by 32.43% the S&P500.
The move comes after 6 months positive chart setup for the $223.57M company. It was reported on Nov, 22 by Barchart.com. We have $6.30 PT which if reached, will make NYSE:WAC worth $11.18 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. As per Tuesday, September 8, the company rating was upgraded by Zacks. The firm has “Market Perform” rating given on Monday, November 9 by Keefe Bruyette & Woods. As per Friday, November 6, the company rating was maintained by FBR Capital. Credit Suisse maintained Walter Investment Management Corp (NYSE:WAC) on Monday, March 7 with “Neutral” rating. Barclays Capital maintained the shares of WAC in a report on Wednesday, August 10 with “Underweight” rating. The rating was downgraded by Zacks on Tuesday, September 1 to “Hold”.
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 increased to 0.82 in Q2 2016. Its up 0.22, from 0.6 in 2016Q1. The ratio is positive, 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.
Millennium Management Limited last reported 100,198 shares in the company. Royal Savings Bank Of Canada holds 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 504 shares. Telemus Limited holds 0.13% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 381,722 shares. National Bank & Trust Of Ny Mellon Corp holds 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 137,042 shares. The New York-based Bnp Paribas Arbitrage has invested 0% in Walter Investment Management Corp (NYSE:WAC). Lmr Prtn Ltd Liability Partnership accumulated 12,764 shares or 0.01% of the stock. Pnc Incorporated accumulated 227 shares or 0% of the stock. Jpmorgan Chase And last reported 0% of its portfolio in the stock. Moreover, Swiss Bank has 0% invested in Walter Investment Management Corp (NYSE:WAC) for 36,500 shares. Tiaa Cref Inv Mngmt Limited Liability Company holds 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 108,235 shares. Parallax Volatility Advisers L P holds 0% or 29,916 shares in its portfolio. Citadel Advsr Limited Liability Corporation owns 29,722 shares or 0% of their US portfolio. Blackrock Fund Advsr owns 489,882 shares or 0% of their US portfolio. Moreover, Ameritas Investment Prtnrs has 0% invested in Walter Investment Management Corp (NYSE:WAC) for 3,297 shares. Moreover, Birch Run Cap Advsrs L P has 8.2% invested in Walter Investment Management Corp (NYSE:WAC) for 7.47 million shares.
Insider Transactions: Since August 24, 2016, the stock had 0 insider buys, and 1 insider sale for $27,451 net activity. Boyd Stuart Douglass sold 8,780 shares worth $27,451.
More notable recent Walter Investment Management Corp (NYSE:WAC) news were published by: Reuters.com which released: “BRIEF-Walter Investment Management Corp. Announces Execution of MSR Purcha…” on November 16, 2016, also Prnewswire.com with their article: “Walter Investment Management Corp. Announces the Hiring of Alfred W. Young, Jr …” published on October 17, 2016, Prnewswire.com published: “Walter Investment Management Corp. Announces Execution of MSR Purchase and …” on November 16, 2016. More interesting news about Walter Investment Management Corp (NYSE:WAC) were released by: Prnewswire.com and their article: “Walter Investment Management Corp. Announces Second Quarter 2016 Highlights …” published on August 09, 2016 as well as Prnewswire.com‘s news article titled: “Walter Investment Management Corp. Announces Full Year And Fourth Quarter 2015 …” with publication date: February 29, 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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