PHH Co. (PHH) Shares Sold by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lessened its stake in PHH Co. (NYSE:PHH) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,296 shares of the credit services provider’s stock after selling 23,531 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in PHH were worth $4,713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of PHH by 237.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 5,966 shares in the last quarter. Bayesian Capital Management LP purchased a new position in PHH during the 2nd quarter valued at about $190,000. Hancock Holding Co. purchased a new position in PHH during the 2nd quarter valued at about $199,000. Teacher Retirement System of Texas purchased a new position in PHH during the 3rd quarter valued at about $298,000. Finally, Westpac Banking Corp purchased a new position in PHH during the 2nd quarter valued at about $322,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

In other PHH news, SVP Leith W. Kaplan sold 9,800 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $11.21, for a total transaction of $109,858.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William F. Brown sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $11.12, for a total transaction of $88,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,625 shares of company stock valued at $294,634 over the last 90 days. 2.52% of the stock is currently owned by insiders.

PHH has been the subject of several recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 target price on shares of PHH in a report on Friday, December 22nd. ValuEngine downgraded shares of PHH from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $13.25.

PHH Co. (PHH) opened at $10.16 on Thursday. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.84. PHH Co. has a twelve month low of $9.79 and a twelve month high of $15.07. The firm has a market cap of $323.19, a PE ratio of -1.77 and a beta of 1.85.

PHH (NYSE:PHH) last posted its earnings results on Tuesday, November 7th. The credit services provider reported ($1.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.72) by ($0.38). PHH had a negative net margin of 71.84% and a negative return on equity of 27.98%. The business had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $61.00 million. During the same quarter last year, the business posted ($0.35) earnings per share. The business’s revenue was down 38.6% compared to the same quarter last year. equities research analysts anticipate that PHH Co. will post -4.93 earnings per share for the current fiscal year.

PHH announced that its board has initiated a stock buyback program on Tuesday, November 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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PHH Company Profile

PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.

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Institutional Ownership by Quarter for PHH (NYSE:PHH)

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