Insider Buying: IMPAC Mortgage Holdings, Inc (IMH) Major Shareholder Purchases 494,004 Shares of Stock

IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) major shareholder Richard H/ Pickup bought 494,004 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average cost of $12.25 per share, with a total value of $6,051,549.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of IMPAC Mortgage Holdings, Inc (IMH) opened at 13.50 on Friday. The firm has a market cap of $282.08 million, a price-to-earnings ratio of 5.15 and a beta of 0.91. IMPAC Mortgage Holdings, Inc has a 12-month low of $12.04 and a 12-month high of $17.40. The firm has a 50-day moving average price of $13.10 and a 200-day moving average price of $14.38.

IMPAC Mortgage Holdings (NYSEMKT:IMH) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.97). IMPAC Mortgage Holdings had a net margin of 16.25% and a return on equity of 9.53%. The business had revenue of $39.63 million during the quarter. Equities research analysts anticipate that IMPAC Mortgage Holdings, Inc will post $1.00 EPS for the current year.

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Several research analysts have recently issued reports on the company. BidaskClub raised IMPAC Mortgage Holdings from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. JMP Securities reduced their target price on IMPAC Mortgage Holdings from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, August 25th.

Institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan grew its position in IMPAC Mortgage Holdings by 194.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the financial services provider’s stock worth $1,677,000 after buying an additional 73,160 shares in the last quarter. CQS Cayman LP acquired a new stake in IMPAC Mortgage Holdings during the second quarter worth approximately $563,000. Vanguard Group Inc. grew its position in IMPAC Mortgage Holdings by 6.9% during the second quarter. Vanguard Group Inc. now owns 456,707 shares of the financial services provider’s stock worth $6,910,000 after buying an additional 29,543 shares in the last quarter. State Street Corp grew its position in IMPAC Mortgage Holdings by 15.5% during the second quarter. State Street Corp now owns 136,890 shares of the financial services provider’s stock worth $2,071,000 after buying an additional 18,349 shares in the last quarter. Finally, Northern Trust Corp grew its position in IMPAC Mortgage Holdings by 14.0% during the second quarter. Northern Trust Corp now owns 119,003 shares of the financial services provider’s stock worth $1,801,000 after buying an additional 14,641 shares in the last quarter.

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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