Guild (NYSE:GHLD) Shares Gap Up – Here’s Why

Guild Holdings (NYSE:GHLD) shares gapped up before the market opened on Friday . The stock had previously closed at $13.25, but opened at $13.53. Guild shares last traded at $13.52, with a volume of 720 shares.

Analyst Upgrades and Downgrades

GHLD has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on shares of Guild from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Guild in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Guild from $14.50 to $13.00 and set an “underweight” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.50.

Guild Trading Up 2.0 %

The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $14.13 and a 200-day moving average price of $14.98. The company has a market capitalization of $836.70 million, a price-to-earnings ratio of -8.72, a P/E/G ratio of 0.31 and a beta of 1.02.

Institutional Trading of Guild

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in shares of Guild by 8.2% during the second quarter. Renaissance Technologies LLC now owns 27,700 shares of the company’s stock valued at $410,000 after purchasing an additional 2,100 shares during the period. Bridges Investment Management Inc. acquired a new stake in Guild during the second quarter worth $10,497,000. Castleview Partners LLC bought a new stake in Guild in the 3rd quarter valued at $79,000. Empowered Funds LLC raised its stake in shares of Guild by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 269,881 shares of the company’s stock valued at $4,488,000 after buying an additional 13,668 shares in the last quarter. Finally, Basswood Capital Management L.L.C. lifted its holdings in shares of Guild by 11.9% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 653,957 shares of the company’s stock worth $10,875,000 after acquiring an additional 69,603 shares during the period. 17.52% of the stock is currently owned by institutional investors and hedge funds.

About Guild

Guild Holdings Company originates, sells, and services residential mortgage loans in the United States. It operates in two segments, Origination and Servicing. The company offers residential mortgages through retail and correspondent channels. Guild Holdings Company was incorporated in 1960 and is headquartered in San Diego, California.