Western Asset Mortgage Capital (NYSE: WMC) It was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which principal and interest payments are guaranteed by a U.S. government agency or a federally chartered corporation. Western Asset Mortgage Capital Corporation is It is headquartered in Pasadena, California.”
Western Asset Mortgage Capital stock rose $0.01 during mid-day trading on Tuesday, reaching $2.23. The company’s trading volume was 107 shares, compared to an average trading volume of 220,770. The company’s current ratio is 864.63, the quick ratio is 864.63, and the debt-to-equity ratio is 11.62. The 50-day moving average for the stock is $2.24, and the 200-day moving average is $2.58. Western Asset Mortgage Capital has a 12-month low of $2.00 and a 12-month high of $4.19. The company has a market capitalization of $135.72 million, a PE ratio of -5.31 and a beta of 2.08.
Western Asset Mortgage Capital (NYSE: WMC) released its earnings results on Thursday, November 4th. The financial services provider reported $0.06 earnings 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 period in the previous year, the company earned $0.10 EPS. Equity research analysts expect Western Asset Mortgage Capital to report 0.27 earnings per share for the current year.
In other news from Western Asset Mortgage Capital, CIO Greg E. Handler acquired 50,000 shares of the company’s stock in a transaction dated Friday, November 26th. The stock was purchased at an average price of $2.17 per share, for a total value of $108500.00. 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 acquired 25,000 shares of the company’s stock in a transaction dated 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 last 90 days, insiders have acquired 85,741 shares of the company’s stock valued at $186,560. Company insiders own 0.80% of the company’s shares.
A number of institutional investors have recently made changes to their positions at WMC. Bank of America Corp. DE raised its stakes in shares of Western Asset Mortgage Capital by 6.3% in the second quarter. Bank of America Corp DE now owns 93,240 shares of the financial services provider’s stock, valued at $303,000 after purchasing an additional 5,545 shares during the period. Commonwealth Equity Services raised its stakes in shares of Western Asset Morting Capital by 44.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,431 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 9,678 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Western Asset Mortgage Capital in the second quarter valued at approximately $35,000. Paloma Partners Management increased its stake in Western Asset Morting Capital by 62.8% during the second quarter. Paloma Partners Management Co. now owns 29,146 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 11,241 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Western Asset Mortgage Capital during the third quarter valued at $33,000. 41.70% of the shares are owned by investment institutions.
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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