Impac Mortgage Holdings Inc. (IMH) Upgraded at JMP Securities

JMP Securities upgraded shares of Impac Mortgage Holdings Inc. (NYSEMKT:IMH) from a market perform rating to an outperform rating in a research report report published on Wednesday. JMP Securities currently has $20.00 price objective on the stock.

Shares of Impac Mortgage Holdings (NYSEMKT:IMH) opened at 15.25 on Wednesday. The company’s 50-day moving average price is $14.97 and its 200-day moving average price is $15.22. Impac Mortgage Holdings has a 52-week low of $11.51 and a 52-week high of $24.22. The firm has a market capitalization of $191.10 million, a P/E ratio of 4.49 and a beta of 0.91.

Impac Mortgage Holdings (NYSEMKT:IMH) last announced its earnings results on Friday, July 29th. The company reported $0.92 earnings per share for the quarter. On average, equities research analysts expect that Impac Mortgage Holdings will post $4.35 EPS for the current fiscal year.

In other Impac Mortgage Holdings news, major shareholder Richard H/ Pickup acquired 300,000 shares of Impac Mortgage Holdings stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $3,900,000.00. Following the purchase, the insider now directly owns 100,000 shares in the company, valued at approximately $1,300,000. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

About Impac Mortgage Holdings

Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.

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