IMPAC Mortgage Holdings, Inc (IMH) Releases Quarterly Earnings Results, Misses Expectations By $0.97 EPS
IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) issued its earnings results on Tuesday. The financial services provider reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.97, Bloomberg Earnings reports. IMPAC Mortgage Holdings had a return on equity of 7.94% and a net margin of 10.20%. The company had revenue of $39.63 million during the quarter.
Shares of IMPAC Mortgage Holdings (IMH) traded down 8.77% on Wednesday, reaching $14.14. The company had a trading volume of 127,130 shares. The company has a 50-day moving average price of $15.17 and a 200-day moving average price of $14.40. IMPAC Mortgage Holdings has a 52-week low of $12.04 and a 52-week high of $17.72. The firm has a market capitalization of $289.13 million, a PE ratio of 4.32 and a beta of 0.91.
A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in IMPAC Mortgage Holdings during the second quarter valued at $143,000. Rhumbline Advisers raised its position in IMPAC Mortgage Holdings by 9.0% in the second quarter. Rhumbline Advisers now owns 11,918 shares of the financial services provider’s stock valued at $180,000 after buying an additional 980 shares during the period. First Trust Advisors LP bought a new position in IMPAC Mortgage Holdings during the second quarter valued at $183,000. Bank of New York Mellon Corp raised its position in IMPAC Mortgage Holdings by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 78,933 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 1,598 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its position in IMPAC Mortgage Holdings by 194.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the financial services provider’s stock valued at $1,677,000 after buying an additional 73,160 shares during the period.
IMH has been the subject of several analyst reports. ValuEngine downgraded IMPAC Mortgage Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. BidaskClub downgraded IMPAC Mortgage Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th.
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About IMPAC Mortgage Holdings
Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.
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