IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 63,600 shares, a decline of 11.0% from the June 30th total of 71,500 shares. Based on an average daily volume of 127,300 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.5% of the company’s stock are short sold.
In other news, major shareholder Thomas B. Akin sold 11,858 shares of IMPAC Mortgage stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $2.11, for a total value of $25,020.38. Following the completion of the transaction, the insider now owns 1,166,779 shares of the company’s stock, valued at approximately $2,461,903.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sara Bay Financial bought a new stake in IMPAC Mortgage in the 2nd quarter worth about $37,000. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of IMPAC Mortgage by 32.7% during the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 313,013 shares of the company’s stock valued at $761,000 after purchasing an additional 77,157 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of IMPAC Mortgage during the 1st quarter valued at about $187,000. Morgan Stanley grew its stake in shares of IMPAC Mortgage by 34.6% during the 1st quarter. Morgan Stanley now owns 297,936 shares of the company’s stock valued at $724,000 after purchasing an additional 76,669 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of IMPAC Mortgage by 158.9% during the 1st quarter. Wells Fargo & Company MN now owns 16,178 shares of the company’s stock valued at $39,000 after purchasing an additional 9,929 shares during the period.
IMH opened at $1.38 on Friday. IMPAC Mortgage has a 1 year low of $1.31 and a 1 year high of $8.03.
IMPAC Mortgage (NYSEAMERICAN:IMH) last released its quarterly earnings data on Thursday, June 25th. The company reported ($2.64) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.48). The company had revenue of ($43.51) million during the quarter.
IMPAC Mortgage Company Profile
Impac Mortgage Holdings, Inc operates as an independent residential mortgage lender in the United States. It operates through three segments: Mortgage Lending, Real Estate Services, and Long-Term Mortgage Portfolio. The Mortgage Lending segment provides mortgage lending products through three lending channels, such as retail, wholesale, and correspondent and opportunistically retain mortgage servicing rights.
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