Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hotchkis and Wiley Capital Now Own 10% of PHH Corp

PHH Corporation, Hotchkis and Wiley Capital: In a recent filing with the Securities and Exchange Comission, Hotchkis and Wiley Capital Management reported strengthening their exposure in PHH Corporation (NYSE:PHH), owning around 5.75 million shares, in comparison with almost 5.30 million shares reported in the latest 13F. In this way, Hotchkis and Wiley now own 10.06% of PHH Corporation, with the aggregate value of their shares amounting to $142.57 million.

PHH Corporation

PHH Corporation recorded a net income attributable to shareholders worth $90 million, or $1.58 per basic share in the second quarter of the year, versus a $57 million loss posted for the same period of last year. “We are taking the necessary actions to reposition our mortgage businesses for the current interest rate and regulatory environment. We are scaling expenses to be consistent with lower expected mortgage production volumes, while maintaining our commitment to high customer service levels and accommodating the demands of the rapidly-changing regulatory environment,” the  president  and  CEO  of  PHH  Corporation, Glen  A.  Messina, said in a statement.

Doug Silverman and Alexander Klabin‘s Senator Investment Group is another shareholder with a long position in PHH Corporation, with 5 million shares reported in the latest round of 13F filings.

Disclosure: none

Recommended Reading:

William B. Gray’s Fund Lowers Stake in E-House (China) Holdings

Phil Frohlich, Prescott Group Ask For PharmAthene Shareholder Meeting

Icahn Gets Key Board Appointment at Enzon Pharmaceuticals

 

Loading...