Seeking Alpha

PHH Corp (PHH) hasn't done much for investors lately, and is basically flat over the last decade, but things could be a-changin'. Orange Capital has gone activist at PHH Corp , owning right at 5% of the company. The 2.86 million shares the company bought marks a new position in the company for Orange.

While there have been a number of major hedge fund investors and activists involved in PHH over the past couple of years, Orange is the first to lay out an actionable plan. As a result, other hedge funds could be getting behind Orange.

This includes Alex Klabin's Senator Investment Group, which nearly doubled its position at the end of September, just...

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