PHH Corp (PHH) Director Kevin Stein Sells 825 Shares
PHH Corp (NYSE:PHH) Director Kevin Stein sold 825 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $14.00, for a total transaction of $11,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of PHH Corp (PHH) traded up 0.79% during mid-day trading on Tuesday, hitting $14.11. 337,693 shares of the company were exchanged. PHH Corp has a 12-month low of $11.76 and a 12-month high of $15.70. The stock’s market cap is $723.93 million. The stock’s 50-day moving average price is $13.85 and its 200 day moving average price is $13.54.
PHH Corp (NYSE:PHH) last issued its quarterly earnings results on Tuesday, August 8th. The credit services provider reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.50. PHH Corp had a negative return on equity of 20.67% and a negative net margin of 55.15%. The company had revenue of $112.00 million during the quarter, compared to analyst estimates of $121.80 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was down 42.9% compared to the same quarter last year. On average, equities analysts anticipate that PHH Corp will post ($1.57) EPS for the current fiscal year.
PHH Corp declared that its Board of Directors has initiated a share buyback program on Tuesday, August 8th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 26.9% of its shares through a dutch auction. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
A number of brokerages have recently issued reports on PHH. ValuEngine lowered PHH Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Wedbush downgraded PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price target for the company. in a report on Tuesday, June 20th. BidaskClub raised PHH Corp from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $15.00 price objective on shares of PHH Corp in a research note on Tuesday, September 12th. Finally, Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. PHH Corp currently has an average rating of “Hold” and an average price target of $15.83.
Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP raised its stake in PHH Corp by 419.7% during the 1st quarter. Quantbot Technologies LP now owns 8,408 shares of the credit services provider’s stock valued at $107,000 after purchasing an additional 6,790 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in PHH Corp by 237.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,482 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 5,966 shares during the period. Bayesian Capital Management LP bought a new stake in PHH Corp in the 2nd quarter valued at $190,000. Hancock Holding Co. bought a new stake in PHH Corp in the 2nd quarter valued at $199,000. Finally, Karp Capital Management Corp acquired a new stake in PHH Corp in the 1st quarter worth $230,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.
PHH Corp Company Profile
PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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