Revenue Update on IMPAC Mortgage Holdings Inc(NYSEMKT:IMH)

IMPAC Mortgage Holdings Inc(NYSEMKT:IMH) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $69.21M. Analysts estimated a revenue of $53.00M. Earnings per share were $0.92. Analysts had estimated an EPS of $0.98.

IMPAC Mortgage Holdings Inc (IMH) made into the market gainers list on Thursdays trading session with the shares advancing 1.10% or 0.19 points. Due to strong positive momentum, the stock ended at $17.47, which is also near the day’s high of $17.59. The stock began the session at $17.28 and the volume stood at 17,567 shares. The 52-week high of the shares is $24.22 and the 52 week low is $11.506. The company has a current market capitalization of $215 M and it has 1,23,22,522 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Richard H/ Pickup (10% owner) purchased 15,300 shares at $14.98 per share price.Also, On Apr 12, 2016, Todd M Pickup (10% owner) purchased 5,354 shares at $13.44 per share price.On Sep 29, 2015, James Walsh (director) sold 5,000 shares at $17.45 per share price, according to the Form-4 filing with the securities and exchange commission.

Impac Mortgage Holdings Inc. is a residential mortgage lender. The Company operates through three business segments: Mortgage Lending Real Estate Services and Long-Term Mortgage Portfolio. The Mortgage Lending segment originate sell and service conventional conforming agency and Government insured residential mortgage loans originated or acquired through its three channels: correspondent wholesale and retail. The Real Estate Services segment provide loss mitigation and real estate services on its long-term mortgage portfolio including default surveillance loan modification services short sale services real estate owned surveillance and disposition services and monitoring reconciling and reporting services for residential and multifamily mortgage portfolios. The Long-Term Mortgage Portfolio segment manages long-term mortgage portfolio that include residual interests in the securitization trusts reflected as trust assets and liabilities in its consolidated balance sheets.

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