Walter Investment Management (WAC) Shares Gap Down to $0.50

Walter Investment Management Corp. (NYSE:WAC) gapped down prior to trading on Tuesday . The stock had previously closed at $0.52, but opened at $0.50. Walter Investment Management shares last traded at $0.33, with a volume of 2521300 shares changing hands.

The company has a debt-to-equity ratio of -57.71, a quick ratio of 12.88 and a current ratio of 12.88.

A number of hedge funds have recently bought and sold shares of WAC. Bank of New York Mellon Corp grew its position in Walter Investment Management by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 142,001 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 8,112 shares during the period. CQS Cayman LP purchased a new stake in Walter Investment Management during the second quarter valued at about $189,000. Virtu KCG Holdings LLC grew its position in Walter Investment Management by 624.6% during the second quarter. Virtu KCG Holdings LLC now owns 237,678 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 204,878 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Walter Investment Management by 1,383.6% during the second quarter. Goldman Sachs Group Inc. now owns 241,879 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 225,576 shares in the last quarter. Finally, Alta Fundamental Advisers LLC acquired a new position in shares of Walter Investment Management during the second quarter worth about $237,000. 40.20% of the stock is owned by hedge funds and other institutional investors.

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Walter Investment Management 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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