Insider Buying: IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) Major Shareholder Buys 35,000 Shares of Stock

IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) major shareholder Richard H/ Pickup acquired 35,000 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $350,000.00. Following the transaction, the insider now directly owns 120,000 shares of the company’s stock, valued at approximately $1,200,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Richard H/ Pickup also recently made the following trade(s):

  • On Friday, December 28th, Richard H/ Pickup purchased 7,183 shares of IMPAC Mortgage stock. The shares were bought at an average price of $10.00 per share, for a total transaction of $71,830.00.
  • On Wednesday, December 26th, Richard H/ Pickup purchased 35,000 shares of IMPAC Mortgage stock. The shares were bought at an average price of $10.00 per share, for a total transaction of $350,000.00.
  • On Thursday, December 28th, Richard H/ Pickup purchased 7,183 shares of IMPAC Mortgage stock. The shares were bought at an average price of $10.00 per share, for a total transaction of $71,830.00.
  • On Wednesday, December 20th, Richard H/ Pickup purchased 54,898 shares of IMPAC Mortgage stock. The shares were bought at an average price of $10.21 per share, for a total transaction of $560,508.58.
  • On Monday, October 16th, Richard H/ Pickup acquired 494,004 shares of IMPAC Mortgage stock. The shares were acquired at an average cost of $12.25 per share, for a total transaction of $6,051,549.00.

Shares of IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) traded down $0.17 during midday trading on Friday, hitting $10.39. 25,878 shares of the stock traded hands, compared to its average volume of 49,054. The company has a market capitalization of $217.67, a P/E ratio of 6.30 and a beta of 0.27. IMPAC Mortgage Holdings, Inc has a 52-week low of $9.92 and a 52-week high of $17.40.

IMPAC Mortgage (NYSEAMERICAN:IMH) last issued its earnings results on Wednesday, November 8th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.07). The firm had revenue of $42.08 million during the quarter. IMPAC Mortgage had a return on equity of 3.02% and a net margin of 5.51%.

A number of institutional investors have recently modified their holdings of IMH. Rhumbline Advisers increased its holdings in IMPAC Mortgage by 9.0% during the second quarter. Rhumbline Advisers now owns 11,918 shares of the company’s stock valued at $180,000 after buying an additional 980 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in IMPAC Mortgage by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 78,933 shares of the company’s stock valued at $1,194,000 after buying an additional 1,598 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in IMPAC Mortgage by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 42,253 shares of the company’s stock valued at $639,000 after buying an additional 1,753 shares during the last quarter. Teachers Advisors LLC increased its holdings in IMPAC Mortgage by 15.9% during the second quarter. Teachers Advisors LLC now owns 18,833 shares of the company’s stock valued at $285,000 after buying an additional 2,585 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in IMPAC Mortgage by 27.0% during the third quarter. Wells Fargo & Company MN now owns 22,385 shares of the company’s stock valued at $292,000 after buying an additional 4,764 shares during the last quarter.

IMH has been the topic of several research reports. BidaskClub lowered shares of IMPAC Mortgage from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 2nd. TheStreet downgraded shares of IMPAC Mortgage from a “c-” rating to a “d” rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $9.68.

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About IMPAC Mortgage

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.

Insider Buying and Selling by Quarter for IMPAC Mortgage (NYSEAMERICAN:IMH)

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