PHH Corp (PHH) Director Carroll R. Wetzel Sells 21,000 Shares
PHH Corp (NYSE:PHH) Director Carroll R. Wetzel sold 21,000 shares of PHH Corp stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $14.25, for a total value of $299,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
PHH Corp (PHH) opened at 13.20 on Wednesday. The firm’s market capitalization is $677.24 million. PHH Corp has a one year low of $11.76 and a one year high of $15.70. The firm has a 50-day moving average price of $14.03 and a 200-day moving average price of $13.45.
PHH Corp (NYSE:PHH) last posted its quarterly earnings results on Tuesday, August 8th. The credit services provider reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.31) by $0.50. The business had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $121.80 million. PHH Corp had a negative return on equity of 20.67% and a negative net margin of 55.15%. The company’s quarterly revenue was down 42.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. Equities analysts anticipate that PHH Corp will post ($2.47) earnings per share for the current year.
PHH Corp announced that its board has approved a stock repurchase plan on Tuesday, August 8th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the credit services provider to repurchase up to 26.9% of its shares through a dutch auction. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of research analysts have issued reports on PHH shares. ValuEngine raised PHH Corp from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded PHH Corp from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. BidaskClub raised PHH Corp from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Wedbush downgraded PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price target for the company. in a report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $15.00 price target on shares of PHH Corp in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.83.
Several institutional investors and hedge funds have recently bought and sold shares of PHH. Teachers Advisors LLC lifted its holdings in shares of PHH Corp by 1.9% in the 4th quarter. Teachers Advisors LLC now owns 95,200 shares of the credit services provider’s stock valued at $1,443,000 after buying an additional 1,819 shares during the period. First Trust Advisors LP acquired a new stake in shares of PHH Corp in the 1st quarter valued at approximately $428,000. Capital Fund Management S.A. acquired a new stake in shares of PHH Corp in the 1st quarter valued at approximately $127,000. UBS Asset Management Americas Inc. lifted its holdings in shares of PHH Corp by 18.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 45,181 shares of the credit services provider’s stock valued at $575,000 after buying an additional 7,162 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in shares of PHH Corp in the 1st quarter valued at approximately $230,000. 98.11% of the stock is owned by institutional investors and hedge funds.
About PHH Corp
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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