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Walter Investment Management In Retrospect: Shares Down 0.8% Since Upgraded One Week Ago (WAC)

Published on Tue, 06/11/2013 - 09:16
By Mallory Stone

A week ago, Wells Fargo upgraded Walter Investment Management from Market Perform to Outperform. The stock closed at $36.17, which is 0.8% lower than the price one week ago ($36.46).

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, shares of Walter Investment Management have traded between a low of $21.31 and a high of $49.99 and are now at $35.20, which is 65% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Walter Investment Management has overhead space with shares priced $35.20, or 21.8% below the average consensus analyst price target of $45.00. Walter Investment Management shares should first meet resistance at the 50-day moving average (MA) of $35.59 and find additional resistance at the 200-day MA of $39.94.

By Mallory Stone