A week ago, Sterne Agee downgraded Walter Investment Management from Buy to Neutral. The shares closed at $46.60, or 10.4% over the $42.21 price of one week ago.
Potential upside of 6.7% exists for Walter Investment Management, based on a current level of $46.21 and analysts' average consensus price target of $49.29. The stock should find initial support at its 50-day moving average (MA) of $42.90 and further support at its 200-day MA of $30.65.
Walter Investment Management Corporation is a mortgage real estate investment trust. The Company is focused on the purchase and securitization of single family mortgage loan pools and subordinate mortgage-backed securities purchased in bulk directly from financial institutions.
In the past 52 weeks, Walter Investment Management share prices have been bracketed by a low of $17.87 and a high of $49.67 and are now at $46.21, 159% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.6% while the 50-day MA has advanced 1.0%.