Mortgage

Short Interest in Western Asset Mortgage Capital Co. (NYSE:WMC) Drops By 59.7%

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Written by Publishing Team

Western Asset Mortgage Capital Co. has seen (NYSE: WMC) A big drop in short interest rates during the month of December. As of December 31, short interest held a total of 712,700 shares, down 59.7% from the December 15 total of 1,770,000 shares. Based on an average daily volume of 428,500 shares, the ratio of days to coverage is currently 1.7 days. Currently, 1.2% of the shares are being short sold.

WMC shares were trading down $0.01 during trading hours on Friday, reaching $2.22. The stock had a trading volume of 117,176 shares, compared to an average trading volume of 381,563. The company has a market capitalization of $135.11 million, a PE ratio of -5.29 and a beta of 2.08. Western Asset Mortgage Capital has a twelve-month low of $2.00 and a twelve-month high of $4.19. The 50-day moving average for the stock is $2.25, and the 200-day moving average is $2.59. The company’s debt-to-equity ratio is 11.62, the trading ratio is 864.63 and the velocity ratio is 864.63.

Western Asset Mortgage Capital (NYSE: WMC) released its quarterly earnings results on Thursday, November 4th. The financial services provider reported earnings of $0.06 per share for the quarter, bringing the Thomson Reuters consensus estimate of $0.06. Western Asset Mortgage Capital had a positive return on equity of 8.41% and a negative net margin of 14.64%. During the same quarter in the previous year, the company earned earnings of $0.10 per share. As a group, equity analysts expect Western Asset Mortgage Capital to report 0.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 26th. Shareholders of record on Friday, December 31st will receive a dividend of $0.06. This represents a dividend of $0.24 year-over-year and a dividend yield of 10.81%. The due date is Thursday, December 30th. Western Asset Mortgage Capital’s dividend yield is currently -57.14%.

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Separately, Zacks Investment Research lowered Western Asset Mortgage Capital from a “hold” rating to a “sell” rating in a report released on Friday, November 19th.

In other news, CIO Greg E. Handler bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 26th. The shares were purchased at an average cost of $2.17 per share, for a total of $10,8500.00 of transactions. The acquisition was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, CIO Greg E. Handler bought 25,000 shares of the stock in a transaction that occurred on Wednesday, November 24th. The stock was acquired at an average cost of $2.17 per share, with a total value of $54.250.00. The disclosure of this purchase can be found here. In the past 90 days, insiders have acquired 85,741 shares of the company’s stock valued at $186,560. 0.80% of the shares are currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Western Asset Mortgage Capital by 29.0% in the 3rd quarter. Geode Capital Management LLC now owns 709,771 shares of the financial services provider’s stock valued at $1,852,000 after purchasing an additional 159,771 shares in the last quarter. AE Wealth Management LLC boosted its stake in Western Asset Mortgage Capital by 50.1% during the 3rd quarter. AE Wealth Management LLC now owns 340,216 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 113,524 shares during the last quarter. Teamwork Financial Advisors LLC boosted its stake in Western Asset Mortgage Capital by 52.7% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 329,778 shares of the financial services provider’s stock valued at $861,000 after acquiring an additional 113,754 shares during the last quarter. Banque de Montreal Kahn boosted its holdings in shares of Western Asset Mortgage Capital by 17.657.3% during the second quarter. Banque de Montreal Cannes now owns 296,369 shares of the financial services provider’s stock valued at $969,000 after acquiring an additional 294,700 shares during the last quarter. Finally, JPMorgan Chase & Co boosted its stake in Western Asset Mortgage Capital by 42.9% during the second quarter. JPMorgan Chase & Co. owns. Now 2,66,480 shares of the financial services provider’s stock valued at $866,000, after acquiring an additional 80,002 shares during the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.

About Western Asset Morting Capital

Western Asset Mortgage Capital Corp. As a real estate investment trust fund. The Company is involved in managing a diversified portfolio of assets. It focuses on investing in, financing and managing real estate related securities, full loans and other financial assets. The company was incorporated on June 3, 2009 and is headquartered in Pasadena, California.

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