Impac Mortgage Holdings, Inc. (NYSEAMERICAN:IMH) was the recipient of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 747,834 shares, a growth of 2.8% from the March 15th total of 727,229 shares. Currently, 5.9% of the company’s shares are short sold. Based on an average daily trading volume, of 64,693 shares, the days-to-cover ratio is currently 11.6 days.
Separately, JMP Securities lowered their price target on Impac Mortgage from $17.00 to $14.00 and set a “market outperform” rating for the company in a report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $7.68.
NYSEAMERICAN:IMH opened at $8.94 on Friday. Impac Mortgage has a 52-week low of $7.18 and a 52-week high of $17.40.
Impac Mortgage (NYSEAMERICAN:IMH) last posted its quarterly earnings data on Wednesday, March 14th. The company reported ($1.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($1.65). The firm had revenue of $11.66 million for the quarter. Impac Mortgage had a return on equity of 3.02% and a net margin of 5.51%.
In related news, major shareholder Richard H. Pickup bought 38,900 shares of the business’s stock in a transaction on Friday, March 16th. The shares were purchased at an average price of $8.07 per share, with a total value of $313,923.00. Following the completion of the purchase, the insider now owns 120,000 shares of the company’s stock, valued at approximately $968,400. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Several large investors have recently bought and sold shares of the stock. Deutsche Bank AG boosted its position in Impac Mortgage by 133.7% during the fourth quarter. Deutsche Bank AG now owns 48,444 shares of the company’s stock valued at $490,000 after purchasing an additional 27,718 shares during the last quarter. Renaissance Technologies LLC boosted its position in Impac Mortgage by 180.1% during the fourth quarter. Renaissance Technologies LLC now owns 36,407 shares of the company’s stock valued at $370,000 after purchasing an additional 23,408 shares during the last quarter. State Street Corp boosted its position in Impac Mortgage by 15.5% during the second quarter. State Street Corp now owns 136,890 shares of the company’s stock valued at $2,071,000 after purchasing an additional 18,349 shares during the last quarter. Ellington Management Group LLC boosted its position in Impac Mortgage by 65.5% during the fourth quarter. Ellington Management Group LLC now owns 45,500 shares of the company’s stock valued at $462,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position 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 purchasing an additional 4,764 shares during the last quarter.
About Impac Mortgage
Impac Mortgage Holdings, Inc operates as an independent residential mortgage lender in the United States. It operates through three segments: Mortgage Lending, Real Estate Services, and Long-Term Mortgage Portfolio. The Mortgage Lending segment primarily originates, sells, and services residential mortgage loans eligible for government securities issued through Ginnie Mae.
Receive News & Ratings for Impac Mortgage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impac Mortgage and related companies with MarketBeat.com's FREE daily email newsletter.