Eddie Lampert Shows New 1.4M Share Stake in PHH Corp. (PHH)
In his latest 13F Eddie Lampert's RBS Partners showed a new 1,408,800 share stake in PHH Corp. (NYSE: PHH). Filings actually showed that Lampert bought the stake in the third quarter of 2007 (Sept 07), but had confidential treatment with the SEC which kept the stake hidden. The confidential treatment expired on May 15, 2008.
At the quarter ended Sept 30, 2007 the stake was worth $37.6 million. The value fell to $24.6 million at the quarter ended March 31, 2008. The stake has since recovered, and is currently worth about $27.4 million.
PHH Corporation, together with its subsidiaries, provides mortgage and fleet management outsourcing services. The company operates through three segments: Mortgage Production, Mortgage Servicing, and Fleet Management Services.
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