Insider Selling: PHH Co. (PHH) SVP Sells 8,000 Shares of Stock
PHH Co. (NYSE:PHH) SVP William F. Brown sold 8,000 shares of PHH stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $11.12, for a total value of $88,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
William F. Brown also recently made the following trade(s):
- On Wednesday, November 15th, William F. Brown sold 8,000 shares of PHH stock. The shares were sold at an average price of $10.92, for a total value of $87,360.00.
Shares of PHH Co. (NYSE:PHH) traded up $0.16 during mid-day trading on Monday, reaching $11.26. The company’s stock had a trading volume of 326,356 shares, compared to its average volume of 481,956. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.84. PHH Co. has a one year low of $10.89 and a one year high of $15.66.
PHH announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of PHH by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,791,261 shares of the credit services provider’s stock valued at $52,206,000 after buying an additional 449,526 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of PHH during the second quarter valued at $1,736,000. Royce & Associates LP lifted its holdings in shares of PHH by 5.7% during the second quarter. Royce & Associates LP now owns 509,928 shares of the credit services provider’s stock valued at $7,022,000 after purchasing an additional 27,500 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of PHH by 4.2% during the second quarter. TIAA CREF Investment Management LLC now owns 471,285 shares of the credit services provider’s stock valued at $6,490,000 after purchasing an additional 18,869 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of PHH by 10.9% during the second quarter. Parametric Portfolio Associates LLC now owns 195,152 shares of the credit services provider’s stock valued at $2,687,000 after purchasing an additional 19,144 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
PHH has been the subject of a number of research analyst reports. BidaskClub upgraded PHH from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.00 price target on shares of PHH in a report on Tuesday, September 12th. Finally, ValuEngine upgraded PHH from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. PHH presently has a consensus rating of “Hold” and a consensus target price of $15.83.
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PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.
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