Shares of Walter Investment Management Corp. (NYSE:WAC) dropped 7.8% on Wednesday . The company traded as low as $0.54 and last traded at $0.54. Approximately 733,012 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 755,397 shares. The stock had previously closed at $0.59.

Separately, Zacks Investment Research lowered shares of Walter Investment Management Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th.

The firm’s 50 day moving average price is $0.51 and its 200 day moving average price is $0.86. The company’s market cap is $20.28 million.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Walter Investment Management Corp. by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 142,001 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 8,112 shares in the last quarter. CQS Cayman LP purchased a new stake in shares of Walter Investment Management Corp. in the 2nd quarter valued at $189,000. Virtu KCG Holdings LLC boosted its stake in shares of Walter Investment Management Corp. by 624.6% in the 2nd quarter. Virtu KCG Holdings LLC now owns 237,678 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 204,878 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Walter Investment Management Corp. by 1,383.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 241,879 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 225,576 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Walter Investment Management Corp. by 8.5% in the 4th quarter. Teachers Advisors LLC now owns 49,329 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 3,878 shares in the last quarter. 56.50% of the stock is owned by institutional investors.

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Walter Investment Management Corp. Company Profile

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.

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