Kazazian Asset Management adds Walter Investment Management Corp (WAC) to its portfolio

Walter Investment Management Corp (WAC) : Kazazian Asset Management added new position in Walter Investment Management Corp during the most recent quarter end. The investment management firm now holds 50,000 shares of Walter Investment Management Corp which is valued at $262,500 , the company said in a statement filed on Nov 14, 2016 with the SEC.Walter Investment Management Corp makes up approximately 0.44% of Kazazian Asset Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The reduced its stake in WAC by selling 24,052 shares or 95.53% in the most recent quarter. The Hedge Fund company now holds 1,126 shares of WAC which is valued at $5,912.Alliancebernstein boosted its stake in WAC in the latest quarter, The investment management firm added 3,300 additional shares and now holds a total of 53,599 shares of Walter Investment Management Corp which is valued at $310,874.Blackrock Advisors reduced its stake in WAC by selling 237 shares or 2.04% in the most recent quarter. The Hedge Fund company now holds 11,364 shares of WAC which is valued at $60,229.Blackrock Institutional Trust Company N.a. boosted its stake in WAC in the latest quarter, The investment management firm added 18,055 additional shares and now holds a total of 919,203 shares of Walter Investment Management Corp which is valued at $4,871,776. Phoenix Investment Adviser added WAC to its portfolio by purchasing 210,000 company shares during the most recent quarter which is valued at $1,029,000. Walter Investment Management Corp makes up approx 1.84% of Phoenix Investment Adviser’s portfolio.

Walter Investment Management Corp opened for trading at $5.6 and hit $5.8 on the upside on Monday, eventually ending the session at $5.8, with a gain of 2.65% or 0.15 points. The heightened volatility saw the trading volume jump to 1,44,056 shares. Company has a market cap of $211 M.

On the company’s financial health, Walter Investment Management Corp reported $-0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $-0.16. The company had revenue of $297.33 million for the quarter, compared to analysts expectations of $322.95 million. The company’s revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

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.

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