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Stock Market & Financial Investment News

News Breaks
February 25, 2014
08:57 EDTWACWalter Investment overall returns set to rebound, says Sterne Agee
Sterne Agee thinks that Walter Investment's servicing business is "on solid footing." The firm expects the company's overall returns to improve in FY14 and FY15. However, it lowered its price target on the stock to $45 from $56, citing investors' recently revised valuation of the company's sector. Nevertheless the firm keeps a Buy rating on the stock.
News For WAC From The Last 14 Days
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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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