Zimmer Partners LP Buys New Position in Home Point Capital Inc. (NASDAQ:HMPT)

Zimmer Partners LP bought a new stake in shares of Home Point Capital Inc. (NASDAQ:HMPT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 612,208 shares of the company’s stock, valued at approximately $5,694,000. Zimmer Partners LP owned approximately 0.44% of Home Point Capital at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Morgan Stanley acquired a new position in Home Point Capital during the 1st quarter valued at about $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of Home Point Capital in the first quarter valued at about $38,000. American International Group Inc. acquired a new position in shares of Home Point Capital in the first quarter valued at about $40,000. New York State Common Retirement Fund acquired a new position in shares of Home Point Capital in the first quarter valued at about $58,000. Finally, California State Teachers Retirement System acquired a new position in shares of Home Point Capital in the first quarter valued at about $103,000. 95.65% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on HMPT. UBS Group lowered Home Point Capital from a “buy” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $7.00 in a report on Wednesday, June 9th. Morgan Stanley lowered their target price on Home Point Capital from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, May 28th. Bank of America restated an “underperform” rating and issued a $10.00 target price (down previously from $16.00) on shares of Home Point Capital in a research note on Tuesday, April 27th. JMP Securities lowered their target price on Home Point Capital from $16.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 26th. Finally, Zacks Investment Research downgraded Home Point Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.30.

HMPT stock traded up $0.20 during midday trading on Thursday, hitting $5.10. 117,195 shares of the company’s stock were exchanged, compared to its average volume of 165,513. The company’s 50-day simple moving average is $6.08. The company has a debt-to-equity ratio of 7.33, a current ratio of 2.81 and a quick ratio of 2.81. The stock has a market capitalization of $709.16 million and a PE ratio of 1.05. Home Point Capital Inc. has a 1-year low of $4.62 and a 1-year high of $13.15.

Home Point Capital (NASDAQ:HMPT) last released its quarterly earnings results on Thursday, May 6th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.27). The firm had revenue of $422.00 million during the quarter, compared to analyst estimates of $371.67 million. Equities research analysts forecast that Home Point Capital Inc. will post 0.88 earnings per share for the current fiscal year.

About Home Point Capital

Home Point Capital Inc, together with its subsidiaries, operates as a residential mortgage originator and service provider. It operates through two segments, Origination and Servicing. The Origination segment sources loans through direct, wholesale, and correspondent channels. The Servicing segment offers collecting loan payments; remitting principal and interest payments to investors; managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; and performing loss mitigation activities on behalf of investors and administering mortgage loans.

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Institutional Ownership by Quarter for Home Point Capital (NASDAQ:HMPT)

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