IMPAC Mortgage Holdings, Inc (IMH) Sees Large Decline in Short Interest

IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 546,480 shares, a drop of 2.4% from the January 15th total of 559,752 shares. Based on an average daily trading volume, of 14,919 shares, the short-interest ratio is currently 36.6 days. Currently, 4.6% of the shares of the stock are sold short.

Shares of IMH opened at $3.93 on Wednesday. IMPAC Mortgage has a 1-year low of $2.93 and a 1-year high of $10.45.

In other IMPAC Mortgage news, major shareholder Todd M. Pickup sold 50,000 shares of IMPAC Mortgage stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $7.25, for a total transaction of $362,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at $725,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Todd M. Pickup bought 7,240 shares of IMPAC Mortgage stock in a transaction on Friday, November 29th. The shares were purchased at an average cost of $3.91 per share, for a total transaction of $28,308.40. Following the completion of the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at $391,000. The disclosure for this purchase can be found here. Over the last three months, insiders bought 35,482 shares of company stock worth $134,253.

Institutional investors and hedge funds have recently made changes to their positions in the business. Beacon Pointe Wealth Advisors LLC acquired a new stake in shares of IMPAC Mortgage during the fourth quarter valued at about $286,000. BlackRock Inc. increased its position in shares of IMPAC Mortgage by 3.5% during the second quarter. BlackRock Inc. now owns 552,867 shares of the company’s stock valued at $5,269,000 after acquiring an additional 18,912 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of IMPAC Mortgage by 39.7% during the fourth quarter. Rhumbline Advisers now owns 14,041 shares of the company’s stock valued at $53,000 after acquiring an additional 3,990 shares during the last quarter.

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About IMPAC Mortgage

Impac Mortgage Holdings, Inc operates as an independent residential mortgage lender in the United States. It operates through three segments: Mortgage Lending, Real Estate Services, and Long-Term Mortgage Portfolio. The Mortgage Lending segment primarily originates, sells, and services residential mortgage loans eligible for government securities issued through Ginnie Mae.

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