IMPAC Mortgage Holdings, Inc (IMH) Sees Significant Decline in Short Interest
IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 659,672 shares, a decrease of 5.3% from the November 15th total of 696,874 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average daily volume of 32,678 shares, the short-interest ratio is currently 20.2 days.
In related news, major shareholder Richard H/ Pickup purchased 494,004 shares of the company’s stock in a transaction on Monday, October 16th. The shares were bought at an average cost of $12.25 per share, for a total transaction of $6,051,549.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in IMH. CQS Cayman LP acquired a new stake in IMPAC Mortgage in the second quarter valued at $563,000. Vanguard Group Inc. raised its stake in shares of IMPAC Mortgage by 6.9% during the 2nd quarter. Vanguard Group Inc. now owns 456,707 shares of the company’s stock worth $6,910,000 after buying an additional 29,543 shares during the last quarter. State Street Corp raised its stake in shares of IMPAC Mortgage by 15.5% during the 2nd quarter. State Street Corp now owns 136,890 shares of the company’s stock worth $2,071,000 after buying an additional 18,349 shares during the last quarter. Nwam LLC acquired a new position in shares of IMPAC Mortgage during the 3rd quarter worth $115,000. Finally, Northern Trust Corp raised its stake in shares of IMPAC Mortgage by 14.0% during the 2nd quarter. Northern Trust Corp now owns 119,003 shares of the company’s stock worth $1,801,000 after buying an additional 14,641 shares during the last quarter.
IMPAC Mortgage (NYSEAMERICAN:IMH) last released its earnings results on Wednesday, November 8th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). IMPAC Mortgage had a net margin of 5.51% and a return on equity of 3.02%. The business had revenue of $42.08 million during the quarter.
IMH has been the topic of a number of research reports. JMP Securities lowered their target price on shares of IMPAC Mortgage from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, August 25th. BidaskClub lowered shares of IMPAC Mortgage from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.68.
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IMPAC Mortgage Company Profile
Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.
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