Walter Investment Management Corp. (NYSE:WAC)’s share price shot up 3.2% on Wednesday . The company traded as high as $3.64 and last traded at $3.60, with a volume of 108,951 shares changing hands. The stock had previously closed at $3.49.

A number of brokerages have weighed in on WAC. Wunderlich raised shares of Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research raised shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Barclays PLC decreased their target price on shares of Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating for the company in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Walter Investment Management Corp. presently has a consensus rating of “Hold” and a consensus price target of $5.30.

The firm’s 50 day moving average is $3.20 and its 200 day moving average is $4.68. The stock’s market capitalization is $131.20 million.

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Walter Investment Management Corp. (NYSE:WAC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The firm had revenue of $187.50 million for the quarter, compared to analyst estimates of $284.14 million. Walter Investment Management Corp. had a negative net margin of 74.41% and a negative return on equity of 4.60%. The business’s quarterly revenue was down 54.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts forecast that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.

In other news, SVP Stuart Douglass Boyd sold 8,780 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $3.13, for a total value of $27,481.40. Following the sale, the senior vice president now owns 30,569 shares in the company, valued at $95,680.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 50.10% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in Walter Investment Management Corp. by 1.9% in the first quarter. LPL Financial LLC now owns 52,926 shares of the company’s stock worth $390,000 after buying an additional 1,000 shares during the last quarter. Geode Capital Management LLC raised its stake in Walter Investment Management Corp. by 0.9% in the first quarter. Geode Capital Management LLC now owns 234,077 shares of the company’s stock valued at $1,788,000 after buying an additional 1,997 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Walter Investment Management Corp. by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 196,062 shares of the company’s stock valued at $541,000 after buying an additional 2,393 shares in the last quarter. Alliancebernstein L.P. raised its stake in Walter Investment Management Corp. by 13.0% in the second quarter. Alliancebernstein L.P. now owns 50,299 shares of the company’s stock valued at $139,000 after buying an additional 5,800 shares in the last quarter. Finally, State Street Corp raised its stake in Walter Investment Management Corp. by 2.4% in the first quarter. State Street Corp now owns 653,794 shares of the company’s stock valued at $4,992,000 after buying an additional 15,302 shares in the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.

About Walter Investment Management Corp.

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.

5 Day Chart for NYSE:WAC

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