IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the target of a large increase in short interest in January. As of January 12th, there was short interest totalling 678,472 shares, an increase of 2.7% from the December 29th total of 660,775 shares. Based on an average trading volume of 32,137 shares, the short-interest ratio is currently 21.1 days. Approximately 5.3% of the shares of the stock are short sold.
In other IMPAC Mortgage news, major shareholder Richard H/ Pickup bought 54,898 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were acquired at an average cost of $10.21 per share, for a total transaction of $560,508.58. Following the transaction, the insider now owns 120,000 shares in the company, valued at $1,225,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 139,264 shares of company stock worth $1,404,169.
Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in IMPAC Mortgage by 117.7% in the second quarter. Wells Fargo & Company MN now owns 17,621 shares of the company’s stock valued at $266,000 after buying an additional 9,527 shares in the last quarter. Vanguard Group Inc. boosted its position in IMPAC Mortgage by 6.9% in the second quarter. Vanguard Group Inc. now owns 456,707 shares of the company’s stock valued at $6,910,000 after buying an additional 29,543 shares in the last quarter. Nwam LLC acquired a new position in IMPAC Mortgage in the third quarter valued at about $115,000. Northern Trust Corp boosted its position in IMPAC Mortgage by 14.0% in the second quarter. Northern Trust Corp now owns 119,003 shares of the company’s stock valued at $1,801,000 after buying an additional 14,641 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in IMPAC Mortgage by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 78,933 shares of the company’s stock valued at $1,194,000 after buying an additional 1,598 shares in the last quarter.
Several analysts have recently weighed in on the stock. BidaskClub lowered shares of IMPAC Mortgage from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 2nd. TheStreet lowered shares of IMPAC Mortgage from a “c-” rating to a “d” rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. IMPAC Mortgage has a consensus rating of “Hold” and a consensus price target of $9.68.
IMPAC Mortgage (IMH) opened at $10.20 on Monday. The company has a market cap of $212.64, a PE ratio of 6.18 and a beta of 0.27. IMPAC Mortgage has a 12-month low of $9.92 and a 12-month high of $17.40.
IMPAC Mortgage (NYSEAMERICAN:IMH) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.07). The firm had revenue of $42.08 million during the quarter. IMPAC Mortgage had a net margin of 5.51% and a return on equity of 3.02%.
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About IMPAC Mortgage
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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