New York State Common Retirement Fund Has $778,000 Holdings in PHH Corp (PHH)
New York State Common Retirement Fund decreased its stake in PHH Corp (NYSE:PHH) by 0.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,500 shares of the credit services provider’s stock after selling 1 shares during the quarter. New York State Common Retirement Fund owned 0.11% of PHH Corp worth $778,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in PHH. American Century Companies Inc. acquired a new stake in shares of PHH Corp during the second quarter worth about $3,393,000. Dimensional Fund Advisors LP raised its position in shares of PHH Corp by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,341,735 shares of the credit services provider’s stock worth $42,540,000 after purchasing an additional 181,321 shares during the period. Vanguard Group Inc. raised its position in shares of PHH Corp by 4.1% during the first quarter. Vanguard Group Inc. now owns 4,356,728 shares of the credit services provider’s stock worth $55,461,000 after purchasing an additional 171,346 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of PHH Corp during the second quarter worth about $1,736,000. Finally, OppenheimerFunds Inc. acquired a new stake in shares of PHH Corp during the first quarter worth about $698,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PHH Corp (PHH) opened at $11.90 on Wednesday. PHH Corp has a 1 year low of $11.76 and a 1 year high of $15.70. The company has a debt-to-equity ratio of 1.34, a quick ratio of 5.61 and a current ratio of 5.61.
PHH Corp (NYSE:PHH) last announced its earnings results on Tuesday, November 7th. The credit services provider reported ($1.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.38). PHH Corp had a negative net margin of 55.15% and a negative return on equity of 20.67%. The firm had revenue of $121.00 million during the quarter, compared to analyst estimates of $61.00 million. During the same period in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was down 38.6% compared to the same quarter last year. analysts predict that PHH Corp will post -6.3 earnings per share for the current year.
PHH Corp announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 8th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 26.9% of its shares through a dutch auction. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently commented on PHH. ValuEngine raised PHH Corp from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised PHH Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised PHH Corp from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $15.00 price target on shares of PHH Corp in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. PHH Corp has a consensus rating of “Hold” and an average price target of $15.83.
In related news, Director Carroll R. Wetzel sold 21,000 shares of PHH Corp stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $14.25, for a total value of $299,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.52% of the stock is currently owned by company insiders.
PHH Corp Profile
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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