Ellie Mae Leads Mortgage Stock Gainers

Ellie Maes common stock price gained over 16% on Friday as the company reported a 45% increase in revenue in 2Q13 over 2Q12 after the market closed on Thursday.

By far Ellie Mae was the leading gainer among Mortgage Industry Equity composite stocks. There were 11 gainers and six decliners for Friday.

Ellie Maes net income for the quarter was $3.7 million, compared with net income of $5 million for 2Q12.

PHH had the second largest percentage gain over Thursdays close, up 2.05%, as the stock rebounded following that days investor sell-off. KB Home was up 1.6%.

OceanFirst Financial closed down 1.95%, followed by Home Loan Servicing Solutions, down 1.46%, and Bank of Hawaii, down 1%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Ellie-Mae-Leads-Mortgage-Stocks-Gainers-1037970-1.html

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