Walter Investment Management Corp. (NYSE:WAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Walter Investment Management Corp., headquartered in Tampa, FL, is a Mortgage portfolio owner and mortgage servicer specializing in subprime, non-conforming and other credit challenged mortgage assets. It is a residential mortgage servicing company with divisional offices located in Atlanta, Birmingham, Charlotte, Ft. Worth and Houston. The company holds licenses as a residential mortgage lender and/or servicer in over 30 states across the US, and presently has federal mortgage lending approval as a Title II Non-Supervised HUD Mortgagee. The portfolio primarily consists of mortgages on homes built by Jim Walter Homes, Inc. and its affiliated builders. The company is one of the few remaining organizations to provide portfolio servicing through a team of full-time field-based employees. It also operates mortgage advisory and insurance product lines of business. “

WAC has been the topic of several other research reports. Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Barclays PLC dropped their price objective on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a sell rating, one has given 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 price target of $4.13.

Analyst Recommendations for Walter Investment Management Corp. (NYSE:WAC)

Walter Investment Management Corp. (NYSE:WAC) opened at 5.35 on Wednesday. The firm’s 50-day moving average price is $4.77 and its 200-day moving average price is $4.00. The company’s market cap is $194.32 million. Walter Investment Management Corp. has a 1-year low of $2.24 and a 1-year high of $16.00.

Walter Investment Management Corp. (NYSE:WAC) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.10. Walter Investment Management Corp. had a negative net margin of 70.66% and a negative return on equity of 9.79%. The firm earned $297.30 million during the quarter, compared to analysts’ expectations of $313.78 million. During the same quarter in the previous year, the company posted $0.44 EPS. Walter Investment Management Corp.’s revenue for the quarter was up 35.5% on a year-over-year basis. Equities research analysts forecast that Walter Investment Management Corp. will post ($0.50) EPS for the current fiscal year.

In other Walter Investment Management Corp. news, SVP Stuart Douglass Boyd sold 8,780 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $3.13, for a total transaction of $27,481.40. Following the sale, the senior vice president now owns 30,569 shares in the company, valued at $95,680.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 50.10% of the company’s stock.

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Walter Investment Management Corp. by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 196,062 shares of the company’s stock valued at $541,000 after buying an additional 2,393 shares in the last quarter. Northern Trust Corp increased its stake in shares of Walter Investment Management Corp. by 1.9% in the third quarter. Northern Trust Corp now owns 257,030 shares of the company’s stock worth $1,043,000 after buying an additional 4,715 shares during the period. Alliancebernstein L.P. increased its stake in shares of Walter Investment Management Corp. by 13.0% in the second quarter. Alliancebernstein L.P. now owns 50,299 shares of the company’s stock worth $139,000 after buying an additional 5,800 shares during the period. California Public Employees Retirement System increased its stake in shares of Walter Investment Management Corp. by 3.3% in the third quarter. California Public Employees Retirement System now owns 435,800 shares of the company’s stock worth $1,769,000 after buying an additional 14,100 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Walter Investment Management Corp. by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 919,203 shares of the company’s stock worth $3,732,000 after buying an additional 18,055 shares during the period. Hedge funds and other institutional investors own 98.32% of the company’s stock.

About Walter Investment Management Corp.

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.

5 Day Chart for NYSE:WAC

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