IMPAC Mortgage Holdings, Inc (IMH) Sees Significant Drop in Short Interest

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IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 667,926 shares, a decline of 2.4% from the October 15th total of 684,211 shares. Approximately 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 24,416 shares, the days-to-cover ratio is presently 27.4 days.

A hedge fund recently raised its stake in IMPAC Mortgage stock. BlackRock Inc. increased its position in shares of IMPAC Mortgage Holdings, Inc (NYSEAMERICAN:IMH) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 552,867 shares of the company’s stock after buying an additional 18,912 shares during the quarter. BlackRock Inc. owned about 2.64% of IMPAC Mortgage worth $5,269,000 at the end of the most recent reporting period.

IMH stock opened at $4.35 on Friday. IMPAC Mortgage has a one year low of $3.80 and a one year high of $12.35.

IMPAC Mortgage (NYSEAMERICAN:IMH) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.35). The firm had revenue of $29.92 million for the quarter.

Separately, JMP Securities lowered shares of IMPAC Mortgage from an “outperform” rating to a “market perform” rating and set a $14.00 price target on the stock. in a research report on Friday, September 7th.

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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 primarily originates, sells, and services residential mortgage loans eligible for government securities issued through Ginnie Mae.

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