PHH Co.’s (NYSE:PHH) Lock-Up Period Set To End on June 25th

PHH’s (NYSE:PHH) lock-up period is set to end on Wednesday, June 25th. PHH had issued 1,200,000 shares in its public offering on December 27th. The total size of the offering was $4,800,000 based on an initial share price of $4.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

PHH Stock Up 9.3%

NYSE:PHH opened at $23.95 on Friday. The company has a 50 day moving average price of $15.33 and a 200-day moving average price of $10.70. PHH has a 1-year low of $3.70 and a 1-year high of $24.50.

About PHH

PHH Corporation, through its PHH Mortgage Corporation, operates as a sub servicer of residential mortgages in the United States. The company operates through two segments, Mortgage Production and Mortgage Servicing. It provides servicing and portfolio retention solutions to investors of mortgage servicing rights, financial and wealth management institutions, regional and community banks, and credit unions.