Insider Selling: PHH Director Unloads 25,000 Shares of Stock (PHH)
PHH (NYSE:PHH) Director Gregory J. Parseghian sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.98, for a total value of $599,500.00. Following the transaction, the director now directly owns 39,495 shares in the company, valued at approximately $947,090. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on PHH. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of PHH in a research note on Monday. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Zacks upgraded shares of PHH from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 7th. They now have a $24.00 price target on the stock. Finally, analysts at Sidoti initiated coverage on shares of PHH in a research note on Friday, July 18th. They set a “buy” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.63.
PHH (NYSE:PHH) traded down 0.34% on Wednesday, hitting $23.45. 660,678 shares of the company’s stock traded hands. PHH has a 52-week low of $20.62 and a 52-week high of $27.13. The stock has a 50-day moving average of $23.61 and a 200-day moving average of $24.26. The company’s market cap is $1.347 billion. PHH also was the target of unusually large options trading activity on Monday. Traders bought 7,398 call options on the company. This represents an increase of 1,802% compared to the average daily volume of 389 call options.
PHH (NYSE:PHH) last released its earnings data on Monday, August 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.18. During the same quarter in the previous year, the company posted $1.40 earnings per share. Analysts expect that PHH will post $-1.28 EPS for the current fiscal year.
PHH Corporation (NYSE:PHH) is an outsource provider of mortgage and fleet management services.
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