PHH Director Sells $399,214 in Stock (PHH)
PHH (NYSE:PHH) Director Gregory J. Parseghian unloaded 16,627 shares of PHH stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $24.01, for a total transaction of $399,214.27. Following the sale, the director now directly owns 39,495 shares in the company, valued at approximately $948,275. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
PHH has been the subject of a number of recent research reports. 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $27.63.
Shares of PHH (NYSE:PHH) traded down 0.34% during mid-day trading on Wednesday, hitting $23.45. 660,678 shares of the company’s stock traded hands. PHH has a one year low of $20.62 and a one year high of $27.13. The stock’s 50-day moving average is $23.62 and its 200-day moving average is $24.25. The company’s market cap is $1.347 billion. PHH also saw unusually large options trading activity on Monday. Stock investors bought 7,398 call options on the company. This is an increase of 1,802% compared to the average volume of 389 call options.
PHH (NYSE:PHH) last announced its earnings results on Monday, August 4th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.18. During the same quarter in the prior year, the company posted $1.40 earnings per share. On average, analysts predict that PHH will post $-1.28 earnings per share for the current fiscal year.
PHH Corporation (NYSE:PHH) is an outsource provider of mortgage and fleet management services.
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