Insider Buying: Robert B. Eastep Purchases 2,400 Shares of Stonegate Mortgage Corp Stock (SGM)
Stonegate Mortgage Corp (NYSE:SGM) CFO Robert B. Eastep acquired 2,400 shares of the stock on the open market in a transaction dated Monday, August 11th. The shares were purchased at an average price of $13.80 per share, with a total value of $33,120.00. Following the acquisition, the chief financial officer now directly owns 11,690 shares of the company’s stock, valued at approximately $161,322. The purchase was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Stonegate Mortgage Corp from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $14.20 price target on the stock. Separately, analysts at Compass Point raised their price target on shares of Stonegate Mortgage Corp from $13.00 to $14.00 in a research note on Monday. They now have a “neutral” rating on the stock. Finally, analysts at Compass Point initiated coverage on shares of Stonegate Mortgage Corp in a research note on Wednesday, July 16th. They set a “neutral” rating and a $13.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $16.60.
Shares of Stonegate Mortgage Corp (NYSE:SGM) traded up 1.74% on Tuesday, hitting $14.05. 124,829 shares of the company’s stock traded hands. Stonegate Mortgage Corp has a 52 week low of $11.81 and a 52 week high of $18.94. The stock’s 50-day moving average is $13.46 and its 200-day moving average is $14.06. The company’s market cap is $362.1 million.
Stonegate Mortgage Corp (NYSE:SGM) last posted its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.01. The company had revenue of $57.60 million for the quarter, compared to the consensus estimate of $62.80 million. Stonegate Mortgage Corp’s revenue was up 32.7% compared to the same quarter last year. On average, analysts predict that Stonegate Mortgage Corp will post $1.46 earnings per share for the current fiscal year.
Stonegate Mortgage Corporation is a United States-based specialty financial services firm focused on the United States residential mortgage market.
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