Silver Point Capital adds PHH Corporation (PHH) to its portfolio

PHH Corporation (PHH) : Silver Point Capital added new position in PHH Corporation during the most recent quarter end. The investment management firm now holds 4,000,000 shares of PHH Corporation which is valued at $59,600,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.PHH Corporation makes up approximately 7.17% of Silver Point Capital’s portfolio.

Other Hedge Funds, Including , Sterling Capital Management added PHH to its portfolio by purchasing 50,193 company shares during the most recent quarter which is valued at $752,393. PHH Corporation makes up approx 0.01% of Sterling Capital Management’s portfolio.Citadel Advisors boosted its stake in PHH in the latest quarter, The investment management firm added 6,850 additional shares and now holds a total of 95,312 shares of PHH Corporation which is valued at $1,417,289.Rhumbline Advisers boosted its stake in PHH in the latest quarter, The investment management firm added 1,020 additional shares and now holds a total of 69,297 shares of PHH Corporation which is valued at $1,040,148. New Jersey Better Educational Savings Trust sold out all of its stake in PHH during the most recent quarter. The investment firm sold 40,000 shares of PHH which is valued $616,800.

PHH Corporation closed down -0.04 points or -0.27% at $14.75 with 5,37,883 shares getting traded on Monday. Post opening the session at $14.78, the shares hit an intraday low of $14.35 and an intraday high of $14.82 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PHH Corporation reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.26 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.34. The company had revenue of $196.00 million for the quarter, compared to analysts expectations of $176.55 million. The company’s revenue was down -17.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-1.43 EPS.

Many Wall Street Analysts have commented on PHH Corporation. Wedbush Initiated PHH Corporation on Oct 11, 2016 to “Neutral”, Price Target of the shares are set at $16.

PHH Corporation (PHH) is an outsource provider of residential mortgage services. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates purchases and sells mortgage loans through PHH Mortgage. The Mortgage Servicing segment services mortgage loans originated by PHH Mortgage and acts as a subservicer for certain clients that own the underlying servicing rights. The Company is a non-bank mortgage originator and servicer of United States residential mortgage loans. Through its wholly-owned subsidiary PHH Mortgage Corporation and its subsidiaries (PHH Mortgage) the Company provides outsourced mortgage banking services to a variety of clients including financial institutions and real estate brokers throughout the United States and are focused on originating selling and servicing residential mortgage loans.

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