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TRADE ALERT- Buy Walter Investment- Stern Agee (WAC)

According to a note by Stern Agee Friday, Walter Investment Management Corp. (NYSE: WAC) is a buy. Stern Agee believes that Walter will come in above the company’s 2014 EPS guidance driven by gains in mortgage servicing revenues. The firm has a “Buy” rating on the stock.

Walter Investment Management Corp is a $1.5 billion company that trades an average of 783,000 shares daily. The stock has been highly volatile ranging from $31.77 on July 9 to $42.27 on August 5. It is down nearly 3 percent Friday has it closes in on its 200 day moving average at $40.08.

Other Friday Trade Alerts: Stern Agee Says Buy Diodes on Weakness

Company Profile:

Walter Investment Management Corp., together with its subsidiaries, provides business services to the residential mortgage industry in the United States. The company offers residential loan services that focuses on credit-sensitive residential and reverse mortgages; and provides a suite of services to the reverse mortgage sector, including servicing, sub-servicing, loan origination, asset management, and related technology.

[stock-tools exchange="NYSE" symbol="WAC" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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