Home Point Capital (NASDAQ:HMPT) Trading 8.9% Higher

Shares of Home Point Capital Inc. (NASDAQ:HMPT – Get Rating) traded up 8.9% during mid-day trading on Friday . The company traded as high as $1.72 and last traded at $1.71. 19,512 shares changed hands during trading, a decline of 3% from the average session volume of 20,036 shares. The stock had previously closed at $1.57.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Home Point Capital to $2.50 in a research report on Wednesday, November 16th. Credit Suisse Group cut their price objective on shares of Home Point Capital from $4.00 to $3.50 and set an “outperform” rating on the stock in a research report on Monday, November 21st. Wedbush raised shares of Home Point Capital from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $4.00 to $1.50 in a research report on Friday, November 11th. Morgan Stanley cut their price objective on shares of Home Point Capital from $3.50 to $1.25 and set an “equal weight” rating on the stock in a research report on Friday, December 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Home Point Capital from $3.00 to $1.50 and set a “sell” rating on the stock in a report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.53.

Home Point Capital Stock Up 8.9 %

The company has a debt-to-equity ratio of 2.83, a quick ratio of 3.81 and a current ratio of 3.81. The company has a market cap of $236.63 million, a price-to-earnings ratio of -2.19 and a beta of 1.14. The stock’s fifty day moving average is $1.50 and its two-hundred day moving average is $2.21.

Home Point Capital (NASDAQ:HMPT – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.35). The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $73.78 million. Home Point Capital had a negative return on equity of 24.71% and a negative net margin of 25.78%. Sell-side analysts predict that Home Point Capital Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Home Point Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC purchased a new stake in Home Point Capital in the 3rd quarter valued at about $37,000. Zebra Capital Management LLC purchased a new stake in Home Point Capital in the 1st quarter valued at about $37,000. Rhumbline Advisers purchased a new stake in Home Point Capital in the 2nd quarter valued at about $58,000. Goldman Sachs Group Inc. increased its stake in Home Point Capital by 28.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,007 shares of the company’s stock valued at $68,000 after buying an additional 4,939 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Home Point Capital in the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 94.01% of the company’s stock.

Home Point Capital Company Profile

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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.