Walter Investment Management Corp (WAC) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.03. The company posted revenue of $187.50 million in the period, compared to analysts expectations of $327.69 million. The company’s revenue was down -54.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Walter Investment Management Corp closed down -0.08 points or -3.39% at $2.28 with 3,42,684 shares getting traded on Monday. Post opening the session at $2.39, the shares hit an intraday low of $2.28 and an intraday high of $2.535 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 11, 2016, James L Pappas (director) purchased 5,000 shares at $4.68 per share price. According to the SEC, 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.