Ellie Mae Sell-Off Prior to Results Release
Investors sold off their holdings of Ellie Mae in anticipation of the company’s fourth-quarter results, which were released after the market closed on Thursday. It was the day’s Mortgage Industry Equity Composite stock with the highest percentage loss from the previous day’s close, down 2.88%.
Ellie Mae did report net income for 4Q12 of $4 million, compared with net income of $1.8 million one year prior.
Other stocks with large percentage losses on the day included PennyMac, down 1.73%, and KB Home, down 1.06%.
Of the seven stocks whose prices were improved for the day, the insurer members of the MIEC were at the top of the table. Mortgage insurer Radian was up 3.89%, title insurer Fidelity National Financial was up 1.2% and MI MGIC was up 1.1%.