Stonegate Mortgage Corp (SGM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Stonegate Mortgage Corp (SGM) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.01. The company posted revenue of $26.50 million in the period, 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 Corp opened for trading at $3.59 and hit $3.84 on the upside on Tusday, eventually ending the session at $3.83, with a gain of 6.39% or 0.23 points. The heightened volatility saw the trading volume jump to 10,649 shares. Company has a market cap of $99 M.

In a different news, on Dec 3, 2015, James V Smith (COO) purchased 10,000 shares at $5.19 per share price. According to the SEC, on Nov 10, 2015, Richard A Kraemer (CEO) purchased 10,000 shares at $5.03 per share price. On Aug 24, 2015, Lisa A. Rogers (EVP – Loan Originiation) purchased 5,000 shares at $6.80 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Stonegate Mortgage Corp

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