Zillow Group, Inc. (NASDAQ: Z) spotted trading -36.16% off 52-week high price. On the other end, the stock has been noted 14.84% away from the low price over the last 52-weeks. The stock changed 4.17% to recent value of $41.94. The stock transacted 2253269 shares during most recent day however it has an average volume of 2357.04K shares. The company has 138.16M of outstanding shares and 129.73M shares were floated in the market.
Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and the web, declared that it has completed its previously announced acquisition of Mortgage Lenders of America, a national mortgage lender, headquartered in Overland Park, Kan.
The acquisition of Mortgage Lenders of America will streamline and shorten the home-buying process for consumers who purchase homes through Zillow Offers. This is consistent with Zillow Group’s strategy to create better consumer experiences at every stage of the home life cycle.
Mortgage Lenders of America will continue its current line of business, offering mortgages to consumers and participating in Zillow’s mortgage marketplace. Owning a mortgage lender will allow Zillow Group to develop new tools and partnership opportunities, including for real estate brokers with existing in-house mortgage operations or mortgage affiliates and our existing mortgage advertisers.
“Getting a mortgage is often the hardest, most complicated part of buying a home,” said Greg Schwartz, president of media and marketplaces at Zillow Group. “We acquired MLOA, which we will rebrand in 2019, so we could streamline, shorten and simplify the home-buying process for consumers who purchase homes through Zillow Offers.”
Mortgage Lenders of America was founded in 2000 and has approximately 300 employees. The company is led by Philip Kneibert. Kneibert will continue to lead the company as vice president and general manager of Mortgage Lenders of America reporting to Greg Schwartz. The company will continue to operate from its Kansas headquarters.
Its earnings per share (EPS) expected to touch remained 5.70% for this year.
The price moved ahead of 5.19% from the mean of 20 days, -3.07% from mean of 50 days SMA and performed -17.94% from mean of 200 days price. Company’s performance for the week was 0.68%, -1.55% for month and YTD performance remained 2.49%.
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