Home Point Capital (NASDAQ:HMPT) rating downgraded to sell at Zacks Investment Research
Capital of point of origin (NASDAQ: HMPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Friday to investors, Zacks.com reports.
According to Zacks, “Home Point Capital Inc. is involved in the purchase and home ownership business. The Company’s primary business entity, Home Point Financial Corporation, is a mortgage originator and servicer. Via of wholly-owned subsidiaries Home Point Mortgage Acceptance Corporation and Home Point Asset Management, the company supports sustainable homeownership. Home Point Capital Inc. is based in ANN ARBOR, Michigan.”
HMPT has been the subject of several other reports. Goldman Sachs Group downgraded Home Point Capital from a “neutral” rating to a “sell” rating and set a target price of $4.50 for the company. in a research note on Thursday, January 6. Credit Suisse Group restated an “outperform” rating and set a target price of $10.00 on Home Point Capital shares in a Friday, Oct. 1 research note. Wedbush rephrased an “outperform” rating and set a price target of $8.00 on Home Point Capital shares in a Friday, Oct. 1 research note. JPMorgan Chase & Co. downgraded Home Point Capital’s rating from “overweight” to “underweight” in a research note Wednesday. Finally, Wells Fargo & Company restated an “overweight” rating and set a target price of $6.00 on Home Point Capital stock in a Friday, Oct. 1 research note. Four investment analysts gave the stock a sell rating, three gave the company a hold rating and four gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.25.
Shares of HMPT traded down $0.01 during Friday’s midday session, hitting $4.70. 69,976 shares of the company were traded, against an average volume of 76,577. Home Point Capital has a fifty-two-week low of $3.60 and a fifty-two-week high of $13.15. The stock has a 50-day simple moving average of $4.33 and a 200-day simple moving average of $4.46. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt ratio of 9.69. The stock has a market cap of $655.78 million and a price-to-earnings ratio of 1.99.
Home Point Capital (NASDAQ:HMPT) last reported results on Thursday, November 4. The company reported earnings per share of $0.11 for the quarter, beating the consensus estimate of $0.05 by $0.06. The company posted revenue of $274.60 million for the quarter, versus analyst estimates of $182.78 million. Home Point Capital had a return on equity of 26.12% and a net margin of 26.82%. As a group, analysts expect Home Point Capital to post 0.33 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. LGT Capital Partners LTD. increased its stake in the shares of Home Point Capital by 34.2% in the 3rd quarter. LGT Capital Partners LTD. now owns 794,156 shares of the company valued at $3,272,000 after purchasing an additional 202,285 shares in the last quarter. Point72 Asset Management LP increased its stake in shares of Home Point Capital by 47.5% in Q2. Point72 Asset Management LP now owns 770,214 shares of the company valued at $4,567,000 after purchasing an additional 247,895 shares in the last quarter. Zimmer Partners LP increased its equity stake in Home Point Capital by 1.2% in Q2. Zimmer Partners LP now owns 619,277 shares of the company valued at $3,672,000 after purchasing an additional 7,069 shares in the last quarter. Miller Value Partners LLC increased its stake in shares of Home Point Capital by 3,952.3% in the 2nd quarter. Miller Value Partners LLC now owns 614,045 shares of the company valued at $3,641,000 after purchasing an additional 598,892 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in Home Point Capital shares by 43.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 451,305 shares of the company valued at $1,859,000 after purchasing an additional 135,953 shares in the last quarter. Institutional investors and hedge funds hold 94.41% of the company’s shares.
Home Point Capital Company Profile
Home Point Capital Inc, together with its subsidiaries, operates as a residential mortgage loan originator and service provider. It operates through two segments, Origination and Servicing. The Origination segment obtains loans through direct, wholesale and correspondent channels. The Servicing segment offers collection of loan repayments; remittance of principal and interest payments to investors; the management of funds blocked for the payment of expenses related to the mortgage, such as taxes and insurance; and perform loss mitigation activities on behalf of investors and administer mortgage loans.
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