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Stock Market & Financial Investment News

News Breaks
July 16, 2014
07:19 EDTPFSI, NSM, HLSS, WACNationstar, Walter Investment downgraded to Underperform at Wells Fargo
Wells Fargo downgraded both Nationstar (NSM) and Walter Investment (WAC) to Underperform from Market Perform and reduced its sector weighting for Mortgage Servicers to Underweight from Market Weight after its cash flow analysis pointed to share downside. Wells also highlights the continued regulatory issues for the space. The firm lowered its price target range for Nationstar shares to $25-$27 from $29-$32 and for Walter to $22-$24 from $27-$32. Wells keeps Buy ratings on Home Loan Servicing (HLSS) and PennyMac (PFSI).
News For NSM;WAC;HLSS;PFSI From The Last 14 Days
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November 27, 2015
06:14 EDTNSMNationstar price target lowered to $33 from $40 at UBS
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November 23, 2015
16:30 EDTWACWalter Investment agrees to increase board to 11 directors
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November 17, 2015
17:20 EDTWACWalter Investment shares jump after reaching consensus with Birch hedge fund
Shares of Walter Investment Management (WAC) jumped 11.94% to $11.16 on Tuesday after the company announced the appointment of Daniel Beltzman, co-founder of hedge fund Birch Run Capital, to its board of directors. Walter Chief Executive Officer Denmar Dixon commented that the company is "firmly committed" to enhancing shareholder value and has maintained a "longstanding and constructive dialogue with Birch Run." In connection with the appointment, the company also said Birch entered into an agreement permitting it to acquire up to 25% of Walter's common stock while also agreeing to vote its shares in support of the company's current directors. Additionally, Walter Investment said it plans to appoint a new non-management director "as soon as practicable."

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