PHH Corp (PHH) Shares Bought by Tudor Investment Corp ET AL
Tudor Investment Corp ET AL lifted its position in PHH Corp (NYSE:PHH) by 104.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,805 shares of the credit services provider’s stock after purchasing an additional 34,715 shares during the quarter. Tudor Investment Corp ET AL owned about 0.13% of PHH Corp worth $934,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of PHH Corp by 0.6% in the second quarter. Rhumbline Advisers now owns 69,569 shares of the credit services provider’s stock worth $958,000 after purchasing an additional 448 shares during the last quarter. Bank of America Corp DE raised its stake in shares of PHH Corp by 3.2% in the first quarter. Bank of America Corp DE now owns 46,481 shares of the credit services provider’s stock worth $591,000 after purchasing an additional 1,439 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of PHH Corp by 1.8% in the first quarter. Teachers Advisors LLC now owns 96,881 shares of the credit services provider’s stock worth $1,233,000 after purchasing an additional 1,681 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of PHH Corp by 8.7% in the second quarter. Voya Investment Management LLC now owns 26,113 shares of the credit services provider’s stock worth $360,000 after purchasing an additional 2,090 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of PHH Corp by 7.1% in the first quarter. American International Group Inc. now owns 32,629 shares of the credit services provider’s stock worth $415,000 after purchasing an additional 2,160 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
Several research analysts have recently issued reports on PHH shares. Wedbush cut PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research note on Tuesday, June 20th. ValuEngine cut PHH Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. BidaskClub upgraded PHH Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price objective on shares of PHH Corp in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. PHH Corp currently has a consensus rating of “Hold” and an average target price of $15.83.
PHH Corp (NYSE PHH) opened at 14.12 on Friday. The company’s 50-day moving average price is $13.85 and its 200 day moving average price is $13.55. PHH Corp has a 12 month low of $11.76 and a 12 month high of $15.70. The stock’s market capitalization is $724.44 million.
PHH Corp (NYSE:PHH) last posted its quarterly earnings data on Tuesday, August 8th. The credit services provider reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.50. PHH Corp had a negative return on equity of 20.67% and a negative net margin of 55.15%. The company had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $121.80 million. During the same period last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was down 42.9% on a year-over-year basis. On average, analysts forecast that PHH Corp will post ($1.57) earnings per share for the current fiscal year.
PHH Corp announced that its board has authorized a share repurchase program on Tuesday, August 8th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the credit services provider to purchase up to 26.9% of its shares through a dutch auction. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other PHH Corp news, Director Carroll R. Wetzel sold 21,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $14.25, for a total transaction of $299,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.52% of the stock is currently owned by company insiders.
About PHH Corp
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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