IMPAC Mortgage Holdings, Inc (IMH) Short Interest Up 2.7% in January

IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the target of a significant growth in short interest in January. As of January 12th, there was short interest totalling 678,472 shares, a growth of 2.7% from the December 29th total of 660,775 shares. Based on an average daily trading volume, of 32,137 shares, the days-to-cover ratio is presently 21.1 days. Currently, 5.3% of the company’s stock are sold short.

IMH has been the topic of a number of recent research reports. BidaskClub upgraded IMPAC Mortgage from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. TheStreet downgraded IMPAC Mortgage from a “c-” rating to a “d” rating in a research note on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. IMPAC Mortgage has an average rating of “Hold” and a consensus price target of $9.68.

In other IMPAC Mortgage news, major shareholder Richard H/ Pickup purchased 54,898 shares of the stock in a transaction dated Wednesday, December 20th. The shares were acquired at an average price of $10.21 per share, for a total transaction of $560,508.58. Following the completion of the acquisition, the insider now owns 120,000 shares of the company’s stock, valued at approximately $1,225,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 139,264 shares of company stock worth $1,404,169 in the last quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of IMH. Rhumbline Advisers lifted its position in shares of IMPAC Mortgage by 9.0% in the second quarter. Rhumbline Advisers now owns 11,918 shares of the company’s stock worth $180,000 after buying an additional 980 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of IMPAC Mortgage in the second quarter worth about $183,000. Nwam LLC acquired a new stake in shares of IMPAC Mortgage in the third quarter worth about $115,000. Wells Fargo & Company MN lifted its position in shares of IMPAC Mortgage by 117.7% in the second quarter. Wells Fargo & Company MN now owns 17,621 shares of the company’s stock worth $266,000 after buying an additional 9,527 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of IMPAC Mortgage by 15.9% in the second quarter. Teachers Advisors LLC now owns 18,833 shares of the company’s stock worth $285,000 after buying an additional 2,585 shares during the last quarter.

IMPAC Mortgage (IMH) opened at $10.25 on Friday. IMPAC Mortgage has a 52 week low of $9.92 and a 52 week high of $17.40. The company has a market capitalization of $216.41, a PE ratio of 6.21 and a beta of 0.27.

IMPAC Mortgage (NYSEAMERICAN:IMH) last issued its earnings results on Wednesday, November 8th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). IMPAC Mortgage had a net margin of 5.51% and a return on equity of 3.02%. The firm had revenue of $42.08 million during the quarter.

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IMPAC Mortgage 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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