EJF Capital is Buying Phh Corp (NYSE:PHH) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Phh Corp (NYSE:PHH) reported that EJF Capital has picked up 4,489,000 of common stock as of 2017-03-09.

The acquisition brings the aggregate amount owned by EJF Capital to a total of 4,489,000 representing a 8.4% stake in the company.

For those not familiar with the company, PHH Corporation (PHH) is a non-bank mortgage originator and servicer of the United States residential mortgage loans. The Company conducts its business through two segments: Mortgage Production and Mortgage Servicing. Its Mortgage Production segment originates, purchases and sells mortgage loans through PHH Mortgage. The Mortgage Production segment includes PHH Home Loans, which is a joint venture that it maintains with Realogy Corporation. The Mortgage Servicing segment services mortgage loans originated by PHH Mortgage and acts as a subservicer for certain clients that own the underlying servicing rights. Through its wholly owned subsidiary, PHH Mortgage Corporation and its subsidiaries (PHH Mortgage), the Company provides outsourced mortgage banking services to various clients, including financial institutions and real estate brokers throughout the United States and re focused on originating, selling, and servicing and subservicing residential mortgage loans..

A glance at Phh Corp (NYSE:PHH)’s key stats reveals a current market capitalization of 655.78 Million based on 53.60 Million shares outstanding and a price at last close of $12.49 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-07-08, Citadel picked up 6,378 at a purchase price of $23.96. This brings their total holding to 0 as of the date of the filing.

On the sell side, the most recent transaction saw Parseghian unload 5,000 shares at a sale price of $27.09. This brings their total holding to 20,051.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Phh Corp (NYSE:PHH) as things move forward to see if its progress aligns with these transactions.

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