PHH's (NYSE:PHH - Get Free Report) lock-up period will expire on Wednesday, June 25th. PHH had issued 1,200,000 shares in its initial public offering on December 27th. The total size of the offering was $4,800,000 based on an initial share price of $4.00. After the expiration of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
PHH Stock Up 10.9%
PHH traded up $2.62 on Friday, hitting $26.57. 1,301,647 shares of the company's stock traded hands, compared to its average volume of 294,939. The company's 50 day simple moving average is $15.60 and its 200-day simple moving average is $10.81. PHH has a one year low of $3.70 and a one year high of $26.60.
About PHH
(
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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.
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