IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 73,700 shares, an increase of 19.8% from the August 31st total of 61,500 shares. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.6% of the shares of the company are sold short.
Shares of NYSEAMERICAN:IMH traded up $0.15 during midday trading on Friday, hitting $1.53. 397,874 shares of the stock were exchanged, compared to its average volume of 72,432. IMPAC Mortgage has a 12 month low of $1.10 and a 12 month high of $8.03.
IMPAC Mortgage (NYSEAMERICAN:IMH) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.52). The business had revenue of ($4.06) million during the quarter.
In other news, major shareholder Thomas B. Akin sold 158,736 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $1.50, for a total value of $238,104.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Thomas B. Akin sold 55,079 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $1.64, for a total transaction of $90,329.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 365,947 shares of company stock valued at $537,207.
Several institutional investors have recently made changes to their positions in IMH. Bridgeway Capital Management Inc. grew its stake in shares of IMPAC Mortgage by 69.9% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 201,781 shares of the company’s stock worth $341,000 after acquiring an additional 83,000 shares during the period. Beacon Pointe Advisors LLC bought a new position in shares of IMPAC Mortgage during the 1st quarter worth $187,000. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of IMPAC Mortgage by 32.7% during the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 313,013 shares of the company’s stock worth $761,000 after acquiring an additional 77,157 shares during the period. Morgan Stanley grew its stake in shares of IMPAC Mortgage by 34.6% during the 1st quarter. Morgan Stanley now owns 297,936 shares of the company’s stock worth $724,000 after acquiring an additional 76,669 shares during the period. Finally, Sara Bay Financial bought a new position in shares of IMPAC Mortgage during the 2nd quarter worth $37,000.
About IMPAC Mortgage
Impac Mortgage Holdings, Inc operates as an independent residential mortgage lender in the United States. It operates through three segments: Mortgage Lending, Real Estate Services, and Long-Term Mortgage Portfolio. The Mortgage Lending segment provides mortgage lending products through three lending channels, such as retail, wholesale, and correspondent and opportunistically retain mortgage servicing rights.
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