Stock of The Day: What’s in PHH Corporation After Today’s Huge Decline?

Stock of The Day: What's in PHH Corporation After Today's Huge Decline?

The stock of PHH Corporation (NYSE:PHH) is a huge mover today! The stock decreased 2.93% or $0.44 on November 8, hitting $14.57. About 611,418 shares traded hands or 49.59% up from the average. PHH Corporation (NYSE:PHH) has risen 24.36% since April 6, 2016 and is uptrending. It has outperformed by 22.40% the S&P500.
The move comes after 9 months negative chart setup for the $801.80M company. It was reported on Nov, 8 by Barchart.com. We have $13.40 PT which if reached, will make NYSE:PHH worth $64.14 million less.

PHH Corporation (NYSE:PHH) Ratings Coverage

Out of 9 analysts covering PHH Corporation (NYSE:PHH), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. PHH Corporation has been the topic of 11 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Sterne Agee CRT on Tuesday, April 12. The firm has “Market Perform” rating given on Friday, August 7 by FBR Capital. The stock has “Market Perform” rating given by Wood on Thursday, August 11. As per Wednesday, September 30, the company rating was upgraded by Compass Point. On Monday, August 10 the stock rating was upgraded by Wood to “Market Perform”. Bruyette & Woods” upgraded the stock to “Outperform” rating in Monday, August 10 report. Morgan Stanley maintained PHH Corporation (NYSE:PHH) rating on Tuesday, August 11. Morgan Stanley has “Equal Weight” rating and $22 price target. Oppenheimer maintained PHH Corporation (NYSE:PHH) rating on Tuesday, August 11. Oppenheimer has “Outperform” rating and $22 price target. The stock of PHH Corporation (NYSE:PHH) has “Outperform” rating given on Monday, August 10 by KBW. As per Thursday, August 11, the company rating was downgraded by Keefe Bruyette & Woods.

According to Zacks Investment Research, “PHH Corp is a leading outsource provider of mortgage and vehicle fleet management services. It is the sixth largest retail originator of residential mortgages in the United States and the second largest fleet management services provider in the United States and Canada.”

Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.09, from 0.96 in 2016Q1. The ratio improved, as 22 funds sold all PHH Corporation shares owned while 33 reduced positions. 20 funds bought stakes while 38 increased positions. They now own 56.29 million shares or 0.83% less from 56.77 million shares in 2016Q1.
Creative Planning, a Kansas-based fund reported 161 shares. Samlyn Cap Ltd has 0.83% invested in the company for 2.61 million shares. Alliancebernstein Limited Partnership, a New York-based fund reported 81,091 shares. Teachers Advsr Incorporated accumulated 93,242 shares or 0% of the stock. Allianz Asset Mgmt Ag, a Germany-based fund reported 5.60M shares. Moreover, Millennium Mgmt Limited has 0.02% invested in PHH Corporation (NYSE:PHH) for 562,457 shares. Citadel Advsr Ltd Limited Liability Company, a Illinois-based fund reported 95,312 shares. Credit Suisse Ag reported 63,199 shares or 0% of all its holdings. Meridian Inv Counsel holds 11,880 shares or 0.11% of its portfolio. The California-based Blackrock Fund Advsrs has invested 0% in PHH Corporation (NYSE:PHH). The Pennsylvania-based Mycio Wealth Prtn Limited Liability has invested 0.03% in PHH Corporation (NYSE:PHH). Royal Comml Bank Of Canada holds 0% or 2,254 shares in its portfolio. Ejf Capital Lc accumulated 1.69% or 1.35 million shares. Goldman Sachs holds 0.01% of its portfolio in PHH Corporation (NYSE:PHH) for 1.49 million shares. Oregon Pub Employees Retirement Fund holds 0.01% or 26,845 shares in its portfolio.

More notable recent PHH Corporation (NYSE:PHH) news were published by: Seekingalpha.com which released: “PHH Corporation – Company Sell-Off Rumors Could Yield Solid Gains” on August 15, 2016, also Businesswire.com with their article: “PHH Corporation Announces Second Quarter 2016 Results” published on August 08, 2016, Moodys.com published: “Moody’s reviews PHH’s Ba3 ratings for downgrade” on April 12, 2016. More interesting news about PHH Corporation (NYSE:PHH) were released by: Businesswire.com and their article: “PHH Corporation Provides Update Regarding its Private Label Business” published on April 11, 2016 as well as Bna.com‘s news article titled: “PHH Corp. v. CFPB: Six Issues to Watch” with publication date: August 05, 2016.

PHH Company Profile

PHH Corporation (PHH), incorporated on December 9, 1953, is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Firm conducts its business through two divisions: Mortgage Production and Mortgage Servicing. The Company’s Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage. The Mortgage Servicing segment services mortgage loans originated by PHH Mortgage and acts as a subservicer for certain clients that own the underlying servicing rights. Through its subsidiary, PHH Mortgage Corporation and its subsidiaries (PHH Mortgage), the Company provides outsourced mortgage banking services to various clients, including financial institutions and real estate brokers throughout the United States and are focused on originating, selling, and servicing and subservicing residential mortgage loans.

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