Walter Investment Management (WAC) : Traders are bullish on Walter Investment Management (WAC) as it has outperformed the S&P 500 by a wide margin of 13.07% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 49.5%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 49.58% in the last 1 week, and is up 14.24% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 25.53% and the 50-Day Moving Average is 11.11%. Walter Investment Management (NYSE:WAC): stock turned positive on Friday. Though the stock opened at $3.27, the bulls momentum made the stock top out at $3.7314 level for the day. The stock recorded a low of $3.18 and closed the trading day at $3.53, in the green by 9.29%. The total traded volume for the day was 1,116,809. The stock had closed at $3.23 in the previous days trading.
The company Insiders own 50.1% of Walter Investment Management shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 31.18%. Also, In the latest statement by the brokerage house, Barclays maintains its outlook on Walter Investment Management (NYSE:WAC). The current rating of the shares is Underweight, according to the research report released by the firm. The brokerage firm lowers the price target from $5 per share to $2 per share. The rating by the firm was issued on August 10, 2016.
Walter Investment Management Corp. is a mortgage banking firm focused on the servicing and origination of residential loans, including reverse loans. The Company operates through six segments: Servicing segment perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio. Originations segment purchases and originates mortgage loans that are sold to third parties with servicing rights generally retained; Reverse Mortgage segment purchases and originates Home Equity Conversion Mortgage that are securitized, but remain on the consolidated balance sheet as collateral for secured borrowings. Asset Receivables Management performs collections of post charge-off deficiency balances. Insurance provides voluntary insurance for residential loan borrowers and lender-placed hazard insurance for borrowers and credit owners, as well as other ancillary products. Loans and Residuals consist of the assets and mortgage-backed debt of the Residual Trusts.