Top 10 Penny Stocks To Buy in 2017

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3. Walter Investment Management Corp (NYSE:WAC)

Next up on our list of 10 penny stocks to buy in 2017 is Walter Investment Management Corp (NYSE:WAC), in which 12 funds held stakes at the end of March, up by two over the quarter. However, the aggregate value of their holdings slid to $15.71 million from $56.30 million during the first three months of 2017, as the stock fell by 77%.

Walter Investment Management is a diversified mortgage banking company that is engaged in the servicing and origination of residential loans. The company’s stock tanked due to Walter Investment Management Corp (NYSE:WAC) facing liquidity issues, which has some investors fearing a possible bankruptcy. Nevertheless, a number of funds, including billionaire Israel Englander’s Millennium Management, and Robert Rodriguez and Steven Romick’s First Pacific Advisors, initiated stakes in the company during the first quarter. At the end of March, Millennium Management held 299,000 shares, while First Pacific owned 279,750 shares.

Andrey_Popov/Shutterstock.com

Andrey_Popov/Shutterstock.com

Follow Ditech Holding Corp (NYSE:DHCP)

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