Tower Research Capital LLC TRC bought a new position in shares of PHH Corp. (NYSE:PHH) during the second quarter, Holdings Channel reports. The institutional investor bought 9,012 shares of the company’s stock, valued at approximately $120,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PHH. Teacher Retirement System of Texas increased its position in PHH Corp. by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 7,514 shares of the company’s stock worth $100,000 after buying an additional 159 shares during the last quarter. BlackRock Inc. boosted its stake in shares of PHH Corp. by 15.7% in the first quarter. BlackRock Inc. now owns 8,149 shares of the company’s stock worth $102,000 after buying an additional 1,103 shares during the period. Nationwide Fund Advisors boosted its stake in shares of PHH Corp. by 5.6% in the second quarter. Nationwide Fund Advisors now owns 45,972 shares of the company’s stock worth $612,000 after buying an additional 2,448 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of PHH Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,284,864 shares of the company’s stock worth $16,112,000 after buying an additional 4,833 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of PHH Corp. by 25.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 26,845 shares of the company’s stock worth $358,000 after buying an additional 5,500 shares during the period.
Shares of PHH Corp. (NYSE:PHH) opened at 14.92 on Thursday. The company’s 50-day moving average price is $14.74 and its 200 day moving average price is $13.83. PHH Corp. has a one year low of $8.26 and a one year high of $18.68. The company’s market cap is $798.62 million.
PHH Corp. (NYSE:PHH) last posted its earnings results on Monday, August 8th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.38. The company had revenue of $196 million for the quarter, compared to the consensus estimate of $182 million. PHH Corp. had a negative return on equity of 6.33% and a negative net margin of 22.64%. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.43) earnings per share. On average, equities research analysts anticipate that PHH Corp. will post ($1.17) earnings per share for the current year.
A number of analysts have recently commented on PHH shares. Wedbush started coverage on PHH Corp. in a research note on Monday. They issued a “neutral” rating and a $16.00 price target for the company. Zacks Investment Research raised PHH Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of PHH Corp. in a research note on Monday, August 8th. Finally, Keefe, Bruyette & Woods lowered PHH Corp. from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $14.92 to $17.00 in a research note on Thursday, August 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $14.75.
PHH Corp. Company Profile
PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage.
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