Apollo Management Holdings Exits Position in Walter Investment Management Corp (WAC)

Walter Investment Management Corp (WAC) : Apollo Management Holdings has sold out all of its stake in Walter Investment Management Corp during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 25,000 shares of Walter Investment Management Corp which is valued at $88,250.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc sold out all of its stake in WAC during the most recent quarter. The investment firm sold 118,841 shares of WAC which is valued $419,509.Group One Trading reduced its stake in WAC by selling 2,595 shares or 54.69% in the most recent quarter. The Hedge Fund company now holds 2,150 shares of WAC which is valued at $7,590.Alliancebernstein boosted its stake in WAC in the latest quarter, The investment management firm added 5,800 additional shares and now holds a total of 50,299 shares of Walter Investment Management Corp which is valued at $177,555.Teacher Retirement System Of Texas reduced its stake in WAC by selling 2,015 shares or 42.37% in the most recent quarter. The Hedge Fund company now holds 2,741 shares of WAC which is valued at $6,249.California Public Employees Retirement System boosted its stake in WAC in the latest quarter, The investment management firm added 16,800 additional shares and now holds a total of 421,700 shares of Walter Investment Management Corp which is valued at $1,062,684.

Walter Investment Management Corp closed down -0.37 points or -9.79% at $3.41 with 4,81,415 shares getting traded on Thursday. Post opening the session at $3.89, the shares hit an intraday low of $3.33 and an intraday high of $3.9 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Walter Investment Management Corp reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.03. The company had revenue of $187.50 million for the quarter, 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. 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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