Impac Mortgage Holdings Inc. (IMH) Upgraded by JMP Securities to Outperform
JMP Securities upgraded shares of Impac Mortgage Holdings Inc. (NYSEMKT:IMH) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday. The brokerage currently has $20.00 price objective on the stock.
Impac Mortgage Holdings (NYSEMKT:IMH) traded up 4.31% on Wednesday, reaching $14.77. The company had a trading volume of 34,918 shares. Impac Mortgage Holdings has a 12-month low of $11.51 and a 12-month high of $24.22. The stock’s 50 day moving average price is $15.09 and its 200-day moving average price is $15.19. The stock has a market capitalization of $185.08 million, a PE ratio of 4.35 and a beta of 0.91.
Impac Mortgage Holdings (NYSEMKT:IMH) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.92 earnings per share for the quarter. Equities analysts expect that Impac Mortgage Holdings will post $4.35 earnings per share for the current fiscal year.
In related news, major shareholder Richard H/ Pickup purchased 300,000 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $3,900,000.00. Following the purchase, the insider now directly owns 100,000 shares in the company, valued at $1,300,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
About Impac Mortgage Holdings
Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.
Receive News & Stock Ratings for Impac Mortgage Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impac Mortgage Holdings Inc. and related stocks with our FREE daily email newsletter.