Walter Investment Management Corp. WAC saw a big move last session, as the company’s shares fell nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $9.97–$14.54 in the past one-month time frame, showed a sharp decline yesterday at $12.48.
This slump shouldn’t be too much of a surprise to investors, as this company in the REIT – Mortgage Trust space has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
WAC currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Dynex Capital Inc. DX, holding a Zacks Rank #1 (Strong Buy).
Is WAC going up? Or down? Predict to see what others think: Up or Down
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