Home Point Capital (NASDAQ:HMPT) Trading Down 6.7%

Home Point Capital Inc. (NASDAQ:HMPT) shares fell 6.7% during mid-day trading on Friday . The company traded as low as $6.52 and last traded at $6.52. 89 shares were traded during mid-day trading, a decline of 100% from the average session volume of 233,637 shares. The stock had previously closed at $6.99.

HMPT has been the topic of a number of recent research reports. Credit Suisse Group initiated coverage on Home Point Capital in a research note on Tuesday, February 23rd. They set an “outperform” rating and a $18.00 target price on the stock. Bank of America reiterated an “underperform” rating and set a $10.00 target price (down previously from $16.00) on shares of Home Point Capital in a research note on Tuesday, April 27th. JPMorgan Chase & Co. initiated coverage on Home Point Capital in a research note on Tuesday, February 23rd. They set an “overweight” rating and a $16.00 target price on the stock. The Goldman Sachs Group initiated coverage on Home Point Capital in a research note on Tuesday, February 23rd. They set a “neutral” rating and a $13.00 target price on the stock. Finally, Zacks Investment Research lowered Home Point Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.30.

The firm’s fifty day simple moving average is $8.02. The firm has a market capitalization of $905.24 million and a PE ratio of 1.34. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.33.

Home Point Capital (NASDAQ:HMPT) last issued its earnings results on Thursday, May 6th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.27). The business had revenue of $422.00 million during the quarter, compared to analysts’ expectations of $371.67 million. On average, equities analysts forecast that Home Point Capital Inc. will post 1.13 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley acquired a new stake in shares of Home Point Capital during the 1st quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Home Point Capital during the 1st quarter valued at $38,000. American International Group Inc. acquired a new stake in shares of Home Point Capital during the 1st quarter valued at $40,000. New York State Common Retirement Fund acquired a new stake in shares of Home Point Capital during the 1st quarter valued at $58,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Home Point Capital during the 1st quarter valued at $103,000. 95.65% of the stock is currently owned by institutional investors.

About Home Point Capital (NASDAQ:HMPT)

Home Point Capital Inc, together with its subsidiaries, operates as a residential mortgage originator and service provider. It operates through two segments, Origination and Servicing. The Origination segment sources loans through direct, wholesale, and correspondent channels. The Servicing segment offers collecting loan payments; remitting principal and interest payments to investors; managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance; and performing loss mitigation activities on behalf of investors and administering mortgage loans.

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