IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) announced its quarterly earnings data on Tuesday. The financial services provider reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.97, Bloomberg Earnings reports. The business had revenue of $39.63 million during the quarter. IMPAC Mortgage Holdings had a return on equity of 7.94% and a net margin of 10.20%.
Shares of IMPAC Mortgage Holdings (IMH) traded down 8.77% during midday trading on Wednesday, reaching $14.14. 127,130 shares of the company’s stock were exchanged. The company has a market cap of $289.13 million, a price-to-earnings ratio of 4.32 and a beta of 0.91. IMPAC Mortgage Holdings has a 12-month low of $12.04 and a 12-month high of $17.67. The stock’s 50 day moving average price is $15.09 and its 200 day moving average price is $14.40.
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of IMPAC Mortgage Holdings during the second quarter worth about $143,000. Rhumbline Advisers increased its position in shares of 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 during the last quarter. First Trust Advisors LP purchased a new position in shares of IMPAC Mortgage Holdings during the second quarter worth about $183,000. Bank of New York Mellon Corp increased its position in shares of 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 during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of 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 during the last quarter.
A number of equities research analysts have weighed in on IMH shares. BidaskClub cut shares of IMPAC Mortgage Holdings from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. ValuEngine cut shares of IMPAC Mortgage Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.
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.
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