Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages business purpose loans secured by 1-4-unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers built and refined over 19 years.
Company profile
Ticker
VEL
Exchange
Website
CEO
Christopher D. Farrar
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Velocity Financial, LLC
SEC CIK
Corporate docs
Subsidiaries
Velocity Commercial Capital, LLC • Century Health & Housing Capital, LLC • New Day Business Finance LLC • New Day Commercial Capital LLC • VCC ABF, LLC • VCC ND, LLC • VCC Mortgage Securities, LLC • VCC Capital Source Financing, LLC ...
VEL stock data
Latest filings (excl ownership)
10-K
2023 FY
Annual report
15 Mar 24
8-K
Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results
8 Mar 24
8-K
Regulation FD Disclosure
7 Mar 24
8-K
Departure of Directors or Certain Officers
14 Feb 24
8-K
Regulation FD Disclosure
7 Feb 24
8-K
Velocity Financial, Inc. Announces Issuance of $75 Million
6 Feb 24
8-K
Regulation FD Disclosure
8 Dec 23
8-K
Regulation FD Disclosure
3 Nov 23
8-K
Results of Operations and Financial Condition
3 Nov 23
10-Q
2023 Q3
Quarterly report
2 Nov 23
Transcripts
VEL
Earnings call transcript
2023 Q4
7 Mar 24
VEL
Earnings call transcript
2023 Q3
2 Nov 23
VEL
Earnings call transcript
2023 Q2
3 Aug 23
VEL
Earnings call transcript
2023 Q1
4 May 23
VEL
Earnings call transcript
2023 Q1
4 May 23
VEL
Earnings call transcript
2022 Q4
9 Mar 23
VEL
Earnings call transcript
2022 Q3
3 Nov 22
VEL
Earnings call transcript
2022 Q2
6 Aug 22
VEL
Earnings call transcript
2022 Q1
7 May 22
VEL
Earnings call transcript
2021 Q4
11 Mar 22
Latest ownership filings
4
Mark R Szczepaniak
16 Feb 24
4
Jeffrey T. Taylor
16 Feb 24
4
Roland Thomas Kelly
16 Feb 24
4
Fiona Tam
16 Feb 24
SC 13G/A
Beach Point Capital Management LP
9 Feb 24
4
Roland Thomas Kelly
25 Jan 24
4
Christopher D. Farrar
25 Jan 24
4
Mark R Szczepaniak
25 Jan 24
4
Jeffrey T. Taylor
25 Jan 24
4
Fiona Tam
25 Jan 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 47.10 mm | 47.10 mm | 47.10 mm | 47.10 mm | 47.10 mm | 47.10 mm |
Cash burn (monthly) | 1.23 mm | (no burn) | (no burn) | (no burn) | 3.25 mm | (no burn) |
Cash used (since last report) | 6.90 mm | n/a | n/a | n/a | 18.31 mm | n/a |
Cash remaining | 40.19 mm | n/a | n/a | n/a | 28.79 mm | n/a |
Runway (months of cash) | 32.8 | n/a | n/a | n/a | 8.9 | n/a |
Institutional ownership, Q2 2022
13F holders | Current |
---|---|
Total holders | 48 |
Opened positions | 2 |
Closed positions | 2 |
Increased positions | 16 |
Reduced positions | 17 |
13F shares | Current |
---|---|
Total value | 501.53 mm |
Total shares | 43.42 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Snow Phipps | 12.27 mm | $134.88 mm |
Pacific Investment Management | 10.96 mm | $141.87 mm |
Allianz Asset Management GmbH | 10.96 mm | $120.49 mm |
Beach Point Capital Management | 3.28 mm | $36.01 mm |
Adage Capital Partners GP, L.L.C. | 1.12 mm | $12.30 mm |
Wasatch Advisors | 929.93 k | $10.22 mm |
WELLINGTON TRUST Co N A | 582.79 k | $7.98 mm |
Vanguard | 548.86 k | $6.03 mm |
BLK Blackrock | 541.72 k | $5.95 mm |
Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio | 501.54 k | $6.87 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
14 Feb 24 | Szczepaniak Mark R | Common Stock | Payment of exercise | Dispose F | No | No | 16.01 | 2,673 | 42.79 k | 138,062 |
14 Feb 24 | Taylor Jeffrey T. | Common Stock | Payment of exercise | Dispose F | No | No | 16.01 | 2,859 | 45.77 k | 143,961 |
14 Feb 24 | Roland Thomas Kelly | Common Stock | Payment of exercise | Dispose F | No | No | 16.01 | 1,203 | 19.26 k | 85,223 |
14 Feb 24 | Fiona Tam | Common Stock | Payment of exercise | Dispose F | No | No | 16.01 | 575 | 9.21 k | 38,794 |
23 Jan 24 | Fiona Tam | Performance Stock Units | Grant | Acquire A | No | No | 15.86 | 3,783 | 60.00 k | 39,369 |
23 Jan 24 | Fiona Tam | Common Stock | Grant | Acquire A | No | No | 15.86 | 3,783 | 60.00 k | 35,586 |
News
Raymond James Reiterates Outperform on Velocity Financial, Raises Price Target to $20
15 Mar 24
Velocity Financial Stock: A Deep Dive Into Analyst Perspectives (4 Ratings)
11 Mar 24
Citigroup Maintains Neutral on Velocity Financial, Raises Price Target to $18
11 Mar 24
BTIG Maintains Buy on Velocity Financial, Raises Price Target to $18
11 Mar 24
JMP Securities Maintains Market Outperform on Velocity Financial, Raises Price Target to $17.5
8 Mar 24
Press releases
Velocity Financial, Inc. Corrects Typographical Error in Fourth Quarter and Full-Year 2023 Results
8 Mar 24
Velocity Financial, Inc. Reports Fourth Quarter and Full-Year 2023 Results
7 Mar 24
Velocity Financial, Inc. Announces Issuance of $75 Million of Senior Secured Notes
6 Feb 24
Velocity Financial, Inc. Announces Date of Fourth Quarter and Full-Year 2023 Financial Results Webcast and Conference Call
31 Jan 24