Insider Selling: PHH major shareholder Unloads 102,280 Shares of Stock (PHH)
PHH (NYSE:PHH) major shareholder Citadel Gp Llc sold 102,280 shares of PHH stock on the open market in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $23.88, for a total value of $2,442,446.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of PHH (NYSE:PHH) traded up 1.94% during mid-day trading on Thursday, hitting $23.11. The stock had a trading volume of 1,555,431 shares. PHH has a 1-year low of $20.58 and a 1-year high of $27.13. The stock has a 50-day moving average of $23.68 and a 200-day moving average of $24.32. The company has a market cap of $1.326 billion and a P/E ratio of 34.72.
PHH (NYSE:PHH) last released its earnings data on Wednesday, May 7th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.23 by $0.55. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down 29.2% on a year-over-year basis. Analysts expect that PHH will post $-0.30 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of PHH in a research note on Tuesday. They now have a $24.00 price target on the stock. Finally, analysts at Compass Point downgraded shares of PHH from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 3rd. They now have a $26.00 price target on the stock, down previously from $28.00. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. PHH presently has a consensus rating of “Hold” and a consensus price target of $26.24.
PHH Corporation (NYSE:PHH) is an outsource provider of mortgage and fleet management services.
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