With PHH Corporation's stock nearing its 52-week high of almost $23 a share, company insiders — including mortgage chief Mark Danahy — have been unloading shares. According to trading records, Mr. Danahy sold 16,120 shares over the past month at a price between $20.10 and $20.49. In total, he grossed $327,000. William F. Brown, an officer of the company, sold 10,000 shares for $21 each, grossing $210,000. The Mt. Laurel, N.J.-based PHH, which underwent a proxy battle and management shakeup earlier this year, is the nation's 11ith largest residential lender, according to the Quarterly Data Report. It services $149 billion in product, ranking 10th nationwide. Its 52-week low is $4.27, reached back in November of last year.
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