Revenue Update on Walter Investment Management Corp(NYSE:WAC)

Walter Investment Management Corp(NYSE:WAC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $187.47M. Analysts estimated a revenue of $284.14M. Earnings per share were $0.07. Analysts had estimated an EPS of $0.03.

In a different note, On Aug 5, 2016, Wunderlich said it Upgrades its rating on Walter Investment Management Corp. The shares have been rated ‘Buy’ by the firm.

Walter Investment Management Corp (WAC) shares turned negative on Wednesdays trading session with the shares closing down -0.25 points or -6.85% at a volume of 5,15,634. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.67. The peak price level was also seen at $3.67 while the days lowest was $3.325. Finally the shares closed at $3.4. The 52-week high of the shares is $18 while the 52-week low is $2.24. According to the latest information available, the market cap of the company is $123 M.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, James L Pappas (director) purchased 5,000 shares at $4.68 per share price.Also, On May 9, 2016, David C Schneider (COO) purchased 21,505 shares at $4.63 per share price.On May 9, 2016, Alvaro G Demolina (director) purchased 25,000 shares at $4.65 per share price, according to the Form-4 filing with the securities and exchange commission.

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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