The stock of Walter Investment Management Corp (NYSE:WAC) is a huge mover today! About 484,988 shares traded hands or 54.73% up from the average. Walter Investment Management Corp (NYSE:WAC) has declined 21.29% since March 15, 2016 and is downtrending. It has underperformed by 26.77% the S&P500.
The move comes after 9 months positive chart setup for the $221.38 million company. It was reported on Oct, 18 by Barchart.com. We have $11.37 PT which if reached, will make NYSE:WAC worth $228.02M 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. The firm has “Hold” rating given on Tuesday, September 8 by Zacks. The rating was maintained by FBR Capital with “Underperform” on Friday, November 6. The firm has “Underweight” rating by Barclays Capital given on Wednesday, August 10. The stock of Walter Investment Management Corp (NYSE:WAC) earned “Neutral” rating by Credit Suisse on Monday, March 7. Keefe Bruyette & Woods upgraded Walter Investment Management Corp (NYSE:WAC) on Monday, November 9 to “Market Perform” rating. The company was downgraded on Tuesday, September 1 by Zacks.
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 fall, 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.
D E Shaw & has invested 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC). Paradigm Capital Mngmt Ny accumulated 13,400 shares or 0% of the stock. Tiaa Cref Investment Management Lc reported 108,235 shares or 0% of all its holdings. Baker Street Limited Liability Co has invested 100% of its portfolio in Walter Investment Management Corp (NYSE:WAC). Deutsche Retail Bank Ag reported 108,101 shares or 0% of all its holdings. Panagora Asset Mngmt Inc holds 894 shares or 0% of its portfolio. Barnett Communication holds 0% or 549 shares in its portfolio. Moreover, Blackrock Ltd has 0% invested in Walter Investment Management Corp (NYSE:WAC) for 11,601 shares. Sei Investments Communication holds 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC) for 50 shares. Northern Trust Corporation last reported 0% of its portfolio in the stock. Parallax Volatility Advisers Limited Partnership holds 0% or 29,916 shares in its portfolio. Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Walter Investment Management Corp (NYSE:WAC). Geode Capital Mgmt Ltd Co owns 218,306 shares or 0% of their US portfolio. New South Capital Inc reported 3.84 million shares or 0.26% of all its holdings. Nationwide Fund Advsrs holds 12,464 shares or 0% of its portfolio.
Insider Transactions: Since May 5, 2016, the stock had 3 insider purchases, and 1 insider sale for $211,767 net activity. $27,451 worth of Walter Investment Management Corp (NYSE:WAC) was sold by Boyd Stuart Douglass. On Friday, May 6 the insider SCHNEIDER DAVID C bought $99,568. Pappas James L bought $23,400 worth of stock or 5,000 shares. $116,250 worth of shares were bought by DEMOLINA ALVARO G on Thursday, May 5.
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 First Quarter 2016 Highlights and …” published on May 03, 2016, Prnewswire.com published: “Walter Investment Management Corp. Announces Second Quarter 2016 Highlights …” on August 09, 2016. More interesting news about Walter Investment Management Corp (NYSE:WAC) were released by: Prnewswire.com and their article: “Walter Investment Management Corp. Announces Full Year And Fourth Quarter 2015 …” published on February 29, 2016 as well as Moodys.com‘s news article titled: “Moody’s downgrades Walter Investment’s ratings” with publication date: March 03, 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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