PHH Sees Unusually High Options Volume (PHH)

PHH Co. (NYSE:PHH) was the target of unusually large options trading activity on Friday. Stock investors acquired 869 call options on the company. This is an increase of 1,325% compared to the typical volume of 61 call options.

In related news, SVP William F. Brown sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $11.12, for a total transaction of $88,960.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 16,825 shares of company stock valued at $184,776. Corporate insiders own 2.52% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PHH. Dimensional Fund Advisors LP boosted its holdings in shares of PHH by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,791,261 shares of the credit services provider’s stock valued at $52,206,000 after purchasing an additional 449,526 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of PHH by 64.8% in the 4th quarter. Citadel Advisors LLC now owns 624,274 shares of the credit services provider’s stock valued at $6,430,000 after purchasing an additional 245,577 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of PHH in the 4th quarter valued at $680,000. Engineers Gate Manager LP acquired a new position in shares of PHH in the 3rd quarter valued at $730,000. Finally, SG Americas Securities LLC acquired a new position in shares of PHH in the 3rd quarter valued at $587,000. Institutional investors own 92.41% of the company’s stock.

A number of brokerages recently issued reports on PHH. ValuEngine lowered shares of PHH from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 target price on shares of PHH in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.25.

Shares of PHH (PHH) opened at $8.46 on Monday. PHH has a 1 year low of $8.01 and a 1 year high of $15.07. The stock has a market cap of $275.35, a P/E ratio of -1.47 and a beta of 1.74. The company has a debt-to-equity ratio of 1.84, a quick ratio of 2.94 and a current ratio of 2.94.

PHH declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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About PHH

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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