Waterstone Capital Management buys $2,466,689 stake in Stonegate Mortgage Corp (SGM)

Stonegate Mortgage Corp (SGM) : Waterstone Capital Management scooped up 9,034 additional shares in Stonegate Mortgage Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 647,425 shares of Stonegate Mortgage Corp which is valued at $2,466,689.Stonegate Mortgage Corp makes up approximately 1.73% of Waterstone Capital Management’s portfolio.

Other Hedge Funds, Including , 683 Capital Management added SGM to its portfolio by purchasing 358,135 company shares during the most recent quarter which is valued at $1,364,494. Stonegate Mortgage Corp makes up approx 0.58% of 683 Capital Management’s portfolio. Teachers Advisors Inc sold out all of its stake in SGM during the most recent quarter. The investment firm sold 20,372 shares of SGM which is valued $77,617.Second Curve Capital reduced its stake in SGM by selling 64,098 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 2,058,911 shares of SGM which is valued at $8,235,644. Stonegate Mortgage Corp makes up approx 5.71% of Second Curve Capital’s portfolio. Sg Americas Securities sold out all of its stake in SGM during the most recent quarter. The investment firm sold 545,012 shares of SGM which is valued $2,016,544. California State Teachers Retirement System sold out all of its stake in SGM during the most recent quarter. The investment firm sold 30,859 shares of SGM which is valued $114,178.

Stonegate Mortgage Corp opened for trading at $4.07 and hit $4.19 on the upside on Thursday, eventually ending the session at $4.18, with a gain of 1.21% or 0.05 points. The heightened volatility saw the trading volume jump to 6,707 shares. Company has a market cap of $108 M.

On the company’s financial health, Stonegate Mortgage Corp reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.01. The company had revenue of $26.50 million for the quarter, compared to analysts expectations of $42.34 million. The company’s revenue was down -64.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.

Stonegate Mortgage Corporation is a specialty finance company that operates as an intermediary. The Company operates three business segments: Mortgage Originations Mortgage Servicing and Mortgage Financing. Its Mortgage Origination business segment primarily originates and sells residential mortgage loans sourced through its correspondent wholesale and retail channels. It also originates and sells jumbo loans. Its Mortgage Servicing business segment performs loan administration collection and default activities. Its Mortgage Financing business segment provides warehouse financing. Its integrated and scalable residential mortgage banking platform includes a diversified origination business which includes a retail branch network a direct to consumer call center and a network of third party originators. Its technology platform Stonegate Connect allows it to connect borrowers directly with investors utilizing advanced decision technology and algorithms.

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