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

Guild Holdings (NYSE:GHLD)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.14, but opened at $13.56. Guild shares last traded at $13.48, with a volume of 7,416 shares traded.

Analysts Set New Price Targets

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

Guild Price Performance

The stock has a market capitalization of $867.02 million, a PE ratio of -9.04, a P/E/G 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. The stock’s 50-day moving average is $13.95 and its 200 day moving average is $14.95.

Hedge Funds Weigh In On Guild

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

Guild Company Profile

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.