IMPAC Mortgage Holdings, Inc (IMH) Downgraded to Strong Sell at BidaskClub

IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday, July 24th.

A number of other equities research analysts have also recently commented on the stock. ValuEngine cut shares of IMPAC Mortgage Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. TheStreet raised shares of IMPAC Mortgage Holdings from a “d” rating to a “c-” rating in a report on Thursday, April 6th.

IMPAC Mortgage Holdings (IMH) traded up 1.66% during trading on Monday, hitting $14.74. The stock had a trading volume of 12,609 shares. The firm has a 50 day moving average price of $15.17 and a 200-day moving average price of $14.40. The firm has a market capitalization of $301.40 million, a PE ratio of 4.51 and a beta of 0.91. IMPAC Mortgage Holdings has a 1-year low of $12.04 and a 1-year high of $17.72.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in IMPAC Mortgage Holdings by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 78,933 shares of the financial services provider’s stock worth $1,194,000 after buying an additional 1,598 shares in the last quarter. SG Americas Securities LLC acquired a new position in IMPAC Mortgage Holdings during the second quarter worth $143,000. Rhumbline Advisers raised its position in IMPAC Mortgage Holdings by 9.0% in the second quarter. Rhumbline Advisers now owns 11,918 shares of the financial services provider’s stock worth $180,000 after buying an additional 980 shares in the last quarter. First Trust Advisors LP acquired a new position in IMPAC Mortgage Holdings during the second quarter worth $183,000. Finally, Municipal Employees Retirement System of Michigan raised its position in IMPAC Mortgage Holdings by 194.2% in 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.

IMPAC Mortgage Holdings Company Profile

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.