Edward Bryant Jr., a director at Guild Holdings Co (NYSE:GHLD), a company with a market capitalization of $845 million, recently sold 4,000 shares of the company's common stock. According to InvestingPro data, the company's stock has seen significant price decline over the past three months. The shares were sold on December 9 at a weighted average price of $13.486 per share, amounting to a total transaction value of $53,944. The shares were sold in multiple transactions, with prices ranging from $13.32 to $13.62. Following this sale, Bryant now holds 23,838 shares in the company.
In a separate transaction on December 11, Bryant disposed of an additional 1,600 shares, though this transaction did not involve any monetary exchange. After these transactions, his total holdings amount to 22,238 shares.
In other recent news, Guild Holdings Company showcased a robust third-quarter performance in its earnings call, marked by a significant rise in loan originations and a solid adjusted net income. The company reported a 6% sequential increase and a 59% year-over-year boost in loan originations, totaling $6.9 billion. The adjusted net income was $31.7 million, and the servicing portfolio reached $91 billion. Despite a net loss of $67 million, primarily due to market volatility and valuation declines in the servicing portfolio, the company's retail origination strategy continues to show effectiveness.
Guild Holdings also repurchased approximately 24,000 shares in Q3 and maintains a strong balance sheet with $106 million in cash reserves. The management anticipates a slower market recovery but is committed to maintaining a strong balance sheet. The company expects to continue its growth trajectory, focusing on retail origination strategy through acquisitions and organic growth.
These are recent developments that reflect the company's preparedness to adjust and benefit from potential future rate decreases. However, market volatility continues to impact the company's financial performance. Despite this, Guild's strategy has led to strong organic growth and effective acquisitions, supporting its positive outlook. The company's strong origination performance and capital position provide a foundation for resilience and future opportunities.
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