February 22nd, 2011
by ABMN Staff
Shares of Walter Investment Management Corp. (WAC) saw unusually high trading volume on Tuesday. Approximately 231,085 shares changed hands during mid-day trading, an increase of 91.30% from the previous session. The stock last traded at $18.53.
On a related note, analysts at Zacks Investment Research upgraded shares of Walter Investment Management Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, February 1st.
Walter Investment Management Corp. (Walter Investment) together with its subsidiaries, is a mortgage servicer and mortgage portfolio owner. The Company is engaged in providing subprime, non-conforming and other residential loans in the southeastern United States. At December 31, 2009, it had four wholly owned subsidiaries Hanover Capital Partners 2, Ltd., doing business as Hanover Capital, Walter Mortgage Company (WMC), Walter Investment Reinsurance Co., Ltd. (WIRC) and Best Insurors, Inc. (Best). The Company operates as an internally managed, publicly traded real estate investment trust (REIT). In November 2010, the Company purchased Marix Servicing LLC, which is focused on default management, borrower outreach, loss mitigation, liquidation strategies and component and specialty servicing.
Shares of Walter Investment Management Corp. (WAC) traded down 2.88% during mid-day trading on Tuesday, hitting $18.53. Walter Investment Management Corp. has a 52 week low of $13.79 and a 52 week high of $19.70. The stock’s 50-day moving average is $18.46 and its 200-day moving average is $17.64. On average, analysts predict that Walter Investment Management Corp. will post $0.00 EPS next quarter. The company has a market cap of $477.4 million and a price-to-earnings ratio of 14.53.
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