TMCnet News
Downgrade Alert for Walter Investment Management (WAC)Jan 04, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Walter Investment Management (AMEX:WAC) was downgraded from Buy to Neutral at Sterne Agee today. The stock closed yesterday at $42.35 on volume of 442,000 shares, above average daily volume of 417,000. Walter Investment Management has overhead space with shares priced $42.21, or 15.1% below the average consensus analyst price target of $49.71. Walter Investment Management shares should encounter resistance at the 50-day moving average (MA) of $42.43 and support at its 200-day MA of $30.05. In the past 52 weeks, shares of Walter Investment Management have traded between a low of $17.87 and a high of $48.54 and closed yesterday at $42.21, which is 136% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.2%. Walter Investment Management Corporation is a mortgage real estate investment trust. The Company is focused on the purchase and securitization of single family mortgage loan pools and subordinate mortgage-backed securities purchased in bulk directly from financial institutions. SmarTrend is tracking the current trend status for Walter Investment Management and will alert subscribers who have WAC in their portfolio or watchlist when shares have changed trend direction. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |