IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 684,043 shares, a drop of 1.2% from the October 13th total of 692,436 shares. Based on an average daily volume of 21,699 shares, the short-interest ratio is currently 31.5 days. Approximately 5.3% of the company’s shares are short sold.

In other news, major shareholder Richard H/ Pickup acquired 494,004 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average price of $12.25 per share, with a total value of $6,051,549.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of IMPAC Mortgage Holdings by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 456,707 shares of the company’s stock valued at $6,910,000 after purchasing an additional 29,543 shares in the last quarter. State Street Corp raised its holdings in shares of IMPAC Mortgage Holdings by 15.5% during the 2nd quarter. State Street Corp now owns 136,890 shares of the company’s stock valued at $2,071,000 after purchasing an additional 18,349 shares in the last quarter. Northern Trust Corp raised its holdings in shares of IMPAC Mortgage Holdings by 14.0% during the 2nd quarter. Northern Trust Corp now owns 119,003 shares of the company’s stock valued at $1,801,000 after purchasing an additional 14,641 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of IMPAC Mortgage Holdings by 194.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the company’s stock valued at $1,677,000 after purchasing an additional 73,160 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of IMPAC Mortgage Holdings by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,933 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,598 shares in the last quarter.

A number of equities research analysts have issued reports on IMH shares. BidaskClub downgraded shares of IMPAC Mortgage Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. JMP Securities cut their target price on shares of IMPAC Mortgage Holdings from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.68.

Shares of IMPAC Mortgage Holdings (NYSEAMERICAN IMH) opened at $11.63 on Friday. IMPAC Mortgage Holdings has a 12-month low of $10.67 and a 12-month high of $17.40.

IMPAC Mortgage Holdings (NYSEAMERICAN:IMH) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $42.08 million for the quarter. IMPAC Mortgage Holdings had a net margin of 16.25% and a return on equity of 9.53%.

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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.

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