Western Asset Mortgage Capital (NYSE:WMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday, 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 the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “
Other analysts also recently issued research reports about the company. Bank of America lowered their price objective on Western Asset Mortgage Capital from $10.75 to $10.50 and set a “buy” rating for the company in a research report on Monday, September 23rd. ValuEngine downgraded Western Asset Mortgage Capital from a “hold” rating to a “sell” rating in a research report on Monday, December 16th.
WMC traded up $0.10 during midday trading on Friday, hitting $10.39. The stock had a trading volume of 273,668 shares, compared to its average volume of 355,412. The company has a market cap of $547.68 million, a P/E ratio of 7.64 and a beta of 0.75. The business has a fifty day moving average of $10.39 and a 200 day moving average of $10.02. The company has a debt-to-equity ratio of 8.05, a quick ratio of 709.60 and a current ratio of 709.60. Western Asset Mortgage Capital has a 1 year low of $9.05 and a 1 year high of $10.75.
Western Asset Mortgage Capital (NYSE:WMC) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). The firm had revenue of $16.57 million during the quarter, compared to analysts’ expectations of $20.95 million. Western Asset Mortgage Capital had a return on equity of 11.66% and a net margin of 18.47%. During the same period in the prior year, the company earned $0.33 EPS. On average, equities research analysts anticipate that Western Asset Mortgage Capital will post 1.21 earnings per share for the current year.
In other Western Asset Mortgage Capital news, CFO Lisa Meyer sold 2,925 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $10.32, for a total value of $30,186.00. Following the completion of the sale, the chief financial officer now owns 10,307 shares in the company, valued at $106,368.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WMC. Strs Ohio raised its holdings in shares of Western Asset Mortgage Capital by 11.9% during the third quarter. Strs Ohio now owns 14,100 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,500 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Western Asset Mortgage Capital by 3.5% during the third quarter. Squarepoint Ops LLC now owns 44,769 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 1,511 shares in the last quarter. Barclays PLC raised its holdings in shares of Western Asset Mortgage Capital by 3.5% during the third quarter. Barclays PLC now owns 76,003 shares of the financial services provider’s stock valued at $733,000 after acquiring an additional 2,599 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Western Asset Mortgage Capital by 4.0% during the third quarter. SG Americas Securities LLC now owns 76,411 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 2,940 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Western Asset Mortgage Capital by 1,481.5% during the second quarter. Bank of Montreal Can now owns 4,270 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 46.41% of the company’s stock.
About Western Asset Mortgage Capital
Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.
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