IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, November 2nd.

Several other equities analysts have also recently weighed in on the stock. Canaccord Genuity reaffirmed a hold rating and set a C$1.35 target price on shares of IMPAC Mortgage Holdings in a research note on Wednesday, July 5th. JMP Securities dropped their price objective on shares of IMPAC Mortgage Holdings from $20.00 to $18.00 and set an outperform rating for the company in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. IMPAC Mortgage Holdings presently has an average rating of Hold and an average price target of $9.68.

IMPAC Mortgage Holdings (NYSEAMERICAN:IMH) traded up $0.28 on Thursday, reaching $11.87. 35,465 shares of the company’s stock traded hands, compared to its average volume of 50,171. IMPAC Mortgage Holdings has a fifty-two week low of $10.67 and a fifty-two week high of $17.40.

IMPAC Mortgage Holdings (NYSEAMERICAN:IMH) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). IMPAC Mortgage Holdings had a return on equity of 9.53% and a net margin of 16.25%. The business had revenue of $42.08 million during the quarter.

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In related news, major shareholder Richard H/ Pickup acquired 494,004 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was bought at an average price of $12.25 per share, for a total transaction of $6,051,549.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Several hedge funds and other institutional investors have recently bought and sold shares of IMH. Vanguard Group Inc. boosted its holdings in shares of IMPAC Mortgage Holdings by 6.9% in the 2nd quarter. Vanguard Group Inc. now owns 456,707 shares of the company’s stock valued at $6,910,000 after acquiring an additional 29,543 shares during the last quarter. State Street Corp boosted its holdings in shares of IMPAC Mortgage Holdings by 15.5% in the 2nd quarter. State Street Corp now owns 136,890 shares of the company’s stock valued at $2,071,000 after acquiring an additional 18,349 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of IMPAC Mortgage Holdings by 14.0% in the 2nd quarter. Northern Trust Corp now owns 119,003 shares of the company’s stock valued at $1,801,000 after acquiring an additional 14,641 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of IMPAC Mortgage Holdings by 194.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the company’s stock valued at $1,677,000 after purchasing an additional 73,160 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of IMPAC Mortgage Holdings by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 78,933 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,598 shares during the period.

IMPAC Mortgage Holdings Company Profile

Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.

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