Zacks Investment Research lowered shares of Stonegate Mortgage Corp. (NYSE:SGM) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Stonegate Mortgage Corporation operates as a non-bank integrated mortgage company focused on originating, financing and servicing Agency and Non-Agency residential mortgage loans. Stonegate Mortgage Corporation is headquartered in the United States. “

Separately, Credit Suisse Group AG reissued a hold rating and issued a $6.00 price objective on shares of Stonegate Mortgage Corp. in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $6.35.

Shares of Stonegate Mortgage Corp. (NYSE:SGM) opened at 4.60 on Wednesday. Stonegate Mortgage Corp. has a 1-year low of $3.16 and a 1-year high of $7.64. The company’s market cap is $118.77 million. The stock has a 50 day moving average price of $4.08 and a 200-day moving average price of $4.28.

Stonegate Mortgage Corp. (NYSE:SGM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business earned $26.50 million during the quarter, compared to the consensus estimate of $43.10 million. Stonegate Mortgage Corp. had a negative net margin of 67.99% and a negative return on equity of 1.05%. The firm’s quarterly revenue was down 64.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Equities research analysts forecast that Stonegate Mortgage Corp. will post $0.15 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in SGM. State Street Corp raised its position in Stonegate Mortgage Corp. by 1.3% in the first quarter. State Street Corp now owns 154,345 shares of the company’s stock valued at $888,000 after buying an additional 1,972 shares in the last quarter. Geode Capital Management LLC raised its position in Stonegate Mortgage Corp. by 1.3% in the first quarter. Geode Capital Management LLC now owns 105,371 shares of the company’s stock valued at $604,000 after buying an additional 1,307 shares in the last quarter. Aristotle Capital Boston LLC raised its position in Stonegate Mortgage Corp. by 10.3% in the first quarter. Aristotle Capital Boston LLC now owns 315,737 shares of the company’s stock valued at $1,812,000 after buying an additional 29,392 shares in the last quarter. Eagle Boston Investment Management Inc. raised its position in Stonegate Mortgage Corp. by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 398,960 shares of the company’s stock valued at $1,340,000 after buying an additional 11,329 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in Stonegate Mortgage Corp. by 3.0% in the second quarter. I.G. Investment Management LTD. now owns 76,261 shares of the company’s stock valued at $256,000 after buying an additional 2,186 shares in the last quarter. 45.22% of the stock is currently owned by institutional investors and hedge funds.

About Stonegate Mortgage Corp.

Stonegate Mortgage Corporation is a non-bank mortgage company. The Company is focused on originating, financing and servicing the United States residential mortgage loans. The Company’s segments include Originations, Servicing, Financing and Other. The Originations segment primarily originates and sells residential mortgage loans, which conform to the underwriting guidelines of the government sponsored enterprises and government agencies, and non-agency whole loan investors.

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