Bank of New York Mellon Corp raised its stake in Walter Investment Management Corp. (NYSE:WAC) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,001 shares of the financial services provider’s stock after buying an additional 8,112 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Walter Investment Management Corp. worth $153,000 at the end of the most recent quarter.
Separately, Teachers Advisors LLC increased its position in shares of Walter Investment Management Corp. by 8.5% in the fourth quarter. Teachers Advisors LLC now owns 49,329 shares of the financial services provider’s stock valued at $234,000 after buying an additional 3,878 shares in the last quarter. Institutional investors own 63.70% of the company’s stock.
Shares of Walter Investment Management Corp. (WAC) traded up 5.5398% during trading on Friday, reaching $0.4096. The company’s stock had a trading volume of 19,496 shares. Walter Investment Management Corp. has a 52-week low of $0.38 and a 52-week high of $8.11. The stock’s market cap is $14.97 million. The stock has a 50-day moving average of $0.75 and a 200-day moving average of $1.64.
Walter Investment Management Corp. (NYSE:WAC) last issued its quarterly earnings data on Wednesday, May 10th. The financial services provider reported ($0.70) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.28. Walter Investment Management Corp. had a negative return on equity of 29.52% and a negative net margin of 18.10%. The company had revenue of $245.29 million for the quarter, compared to the consensus estimate of $245.60 million. During the same quarter last year, the business posted ($0.50) earnings per share. The firm’s revenue was up 267.4% compared to the same quarter last year. Analysts predict that Walter Investment Management Corp. will post ($2.37) earnings per share for the current fiscal year.
Several research firms recently weighed in on WAC. Zacks Investment Research cut Walter Investment Management Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Wells Fargo & Company raised Walter Investment Management Corp. from an “underperform” rating to a “market perform” rating and set a $1.25 price target for the company in a report on Wednesday, May 10th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and set a $1.00 price target on shares of Walter Investment Management Corp. in a report on Wednesday, April 19th.
Walter Investment Management Corp. Company Profile
Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.
Want to see what other hedge funds are holding WAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Walter Investment Management Corp. (NYSE:WAC).
What are top analysts saying about Walter Investment Management Corp.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Walter Investment Management Corp. and related companies.