Walter Investment Management Stock Falls On Unusually High Volume (WAC)
Walter Investment Management (AMEX:WAC) is trading at unusually high volume Tuesday with 1.2 million shares changing hands. It is currently at 4.4 times its average daily volume and trading down $2.46 (-9.6%).
NEW YORK ( TheStreet) -- Walter Investment Management (AMEX: WAC) is trading at unusually high volume Tuesday with 1.2 million shares changing hands. It is currently at 4.4 times its average daily volume and trading down $2.46 (-9.6%) at $23.19 as of 12 p.m. ET. Walter Investment Management has a market cap of $695.5 million and is part of the financial sector and financial services industry. Shares are up 41% year to date as of the close of trading on Monday. Walter Investment Management Corp., a real estate investment trust (REIT), operates as a mortgage portfolio owner and mortgage servicer, specializing in sub prime, non-conforming, and other credit challenged residential loans primarily in the southeastern United States. The company has a P/E ratio of 33.3, above the average financial services industry P/E ratio of 33.1 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Walter Investment Management as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally weak debt management, disappointing return on equity and weak operating cash flow. You can view the full Walter Investment Management Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.