Quick Win By The Algorithm: WAC Stock Makes Big Gains On Announced Changes in Company Management

Quick Win By The Algorithm

On December 7th, 2017, I Know First issued a bullish 7 day forecast for Walter Investment Management Corp. (NYSE: WAC). The forecast showed a signal of 62.40 and a predictability of 0.11. In accordance with the forecast, WAC’s stock returned 31.41% over this period, solidifying another quick win by the I Know First algorithm.

WAC’s stock was quite volatile during the forecast period.  However, the stock made significant gains starting December 7th.  The big move upward in the stock was most likely a vote of confidence by the market surrounding the announced changes in company management.  It was announced that the CFO and COO would be replaced.  The new CFO is coming from the position of managing director & treasurer of the consumer and community bank at JPMorgan Chase.  The new COO is being promoted from within the company’s ranks and was formerly the president of WAC’s reverse mortgage subsidiary.

Company Profile

Walter Investment Management Corp. operates as an independent servicer and originator of mortgage loans, and a servicer of reverse mortgage loans in the United States. It operates through three segments: Servicing, Originations, and Reverse Mortgage. The Servicing segment performs services on behalf of third-party credit owners of mortgage loans, as well as its mortgage loan portfolio; and subservicing for third-party owners of mortgage servicing rights. This segment also operates a collections agency that performs collections of post charge-off deficiency balances for third parties and the company; and holds the assets and mortgage-backed debt of the residual trusts. The Originations segment originates and purchases mortgage loans for third parties while retaining the servicing rights. The Reverse Mortgage segment performs servicing for third-party credit owners of reverse loans; and provides other services for the reverse mortgage market, such as real estate owned property management and disposition. Walter Investment Management Corp. was founded in 1958 and is based in Tampa, Florida.

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Current I Know First subscribers received this bullish MHO forecast on December 7th, 2017


Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.