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

Guild Holdings (NYSE:GHLD) shares gapped up prior to trading 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

Several research analysts have recently weighed in on GHLD shares. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Guild in a report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Guild from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on Guild from $14.50 to $13.00 and set an “underweight” rating on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.50.

Guild Trading Up 6.2 %

The business’s 50-day simple moving average is $14.10 and its two-hundred day simple moving average is $14.98. The firm has a market capitalization of $870.74 million, a price-to-earnings ratio of -9.08, a PEG ratio of 0.31 and a beta of 1.02. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.92.

Institutional Trading of Guild

Several institutional investors have recently added to or reduced their stakes in GHLD. Bridges Investment Management Inc. acquired a new position in Guild during the second quarter worth $10,497,000. Basswood Capital Management L.L.C. lifted its stake in 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 in the last quarter. Empowered Funds LLC lifted its stake in Guild by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 269,881 shares of the company’s stock worth $4,488,000 after acquiring an additional 13,668 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Guild by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 98,244 shares of the company’s stock valued at $1,634,000 after acquiring an additional 1,901 shares during the period. Finally, Renaissance Technologies LLC grew its position in Guild by 8.2% in the 2nd quarter. Renaissance Technologies LLC now owns 27,700 shares of the company’s stock valued at $410,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 17.52% of the company’s stock.

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.