SAC Capital Advisors Raises Stake in Walter Investment Management Corp (WAC)

According to a new filing with the Securities and Exchange Commission, Steven Cohen and his fund, SAC Capital Advisors, have upped their position in Walter Investment Management Corp (NYSE:WAC) to almost 1.9 million shares, from less than 1.2 million held previously. In this way, the passive stake held by SAC amasses 5.0% of the company’s outstanding common stock.

SAC CAPITAL ADVISORS

The move comes on the back of the 2013 financial results disclosed by Walter Investment Management Corp (NYSE:WAC) around a week ago. The company reported a profit of $253.5 million, versus a loss of over $22 million disclosed a year ago. Overall, amid the improvement in the market conditions, the company anticipates an adjusted EBITDS between $650 and $725 million for the current year. Core EPS is expected to amount to $5.25 to $6.25.

The stock of Walter Investment Management Corp (NYSE:WAC) sports a trailing P/E of around 5.0 and has declined by around 21% since the beginning of the year. Moreover, the mean recommendation for WAC is Overweight, while the average target stands at around $38 per share, which is well above the current price.

Aside from SAC Capital, several other hedge funds have been bullish on Walter Investment Management Corp (NYSE:WAC), according to our database. Select Equity Group, led by Robert Joseph Caruso, is one of the most significant investors, which, recently, has upped its stake to some 3.2 million shares, from 2.9 held previously. Birch Run Capital, run by Daniel Beltzman and Gergory Smith, and Brian Taylor’s Pine River Capital Management, also hold notable positions, which amass some 2.8 million and 2.4 million shares respectively.

SAC has been active in the past couple of days, reporting significant raises in its holdings. Of late, the fund upped its stake in Gogo Inc (NASDAQ:GOGO), to 4.55 million shares. In Februrary, the fund disclosed holding 5.0% stakes in ITT Educational Services, Inc. (NYSE:ESI), and DeVry Education Group Inc (NYSE:DV), with both positions significantly boosted.

Disclosure: none

Recommended Reading:

Mason Hawkins’ Southeastern Ups Stake in Consol Energy (CNX)

Segantii Capital and Billionaires are Betting On These Stocks

Hound Partners & Arrow Capital Management Are Buying the Same Stocks

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!