PHH Co.’s (NYSE:PHH) Quiet Period Set To End on February 5th

PHH’s (NYSE:PHH) quiet period is set to expire on Wednesday, February 5th. PHH had issued 1,200,000 shares in its IPO on December 27th. The total size of the offering was $4,800,000 based on an initial share price of $4.00. During PHH’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

PHH Trading Down 6.7 %

Shares of PHH stock traded down $0.41 on Friday, reaching $5.70. 44,508 shares of the stock were exchanged, compared to its average volume of 93,188. PHH has a one year low of $3.70 and a one year high of $6.90. The stock has a 50 day moving average price of $8.41 and a 200 day moving average price of $10.10.

PHH Company Profile

PHH Corporation, through its PHH Mortgage Corporation, operates as a sub servicer of residential mortgages in the United States. The company operates through two segments, Mortgage Production and Mortgage Servicing. It provides servicing and portfolio retention solutions to investors of mortgage servicing rights, financial and wealth management institutions, regional and community banks, and credit unions.