Western Asset Mortgage Capital Corp (WMC) Insider Acquires $102,200.00 in Stock
Western Asset Mortgage Capital Corp (NYSE:WMC) insider Jennifer Murphy acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were bought at an average cost of $10.22 per share, with a total value of $102,200.00. Following the completion of the purchase, the insider now owns 47,500 shares of the company’s stock, valued at $485,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Western Asset Mortgage Capital Corp (NYSE WMC) traded down $0.43 during trading hours on Friday, reaching $9.95. The company’s stock had a trading volume of 416,512 shares, compared to its average volume of 238,405. Western Asset Mortgage Capital Corp has a 1 year low of $9.43 and a 1 year high of $10.95. The company has a current ratio of 128.12, a quick ratio of 128.12 and a debt-to-equity ratio of 7.34. The firm has a market capitalization of $417.10, a PE ratio of 55.28 and a beta of 0.67.
Western Asset Mortgage Capital (NYSE:WMC) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Western Asset Mortgage Capital had a net margin of 18.57% and a return on equity of 1.81%. The business had revenue of $18.57 million during the quarter, compared to analyst estimates of $17.10 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. equities analysts expect that Western Asset Mortgage Capital Corp will post 1.18 earnings per share for the current year.
Western Asset Mortgage Capital declared that its board has initiated a share repurchase plan on Thursday, December 21st that allows the company to repurchase 2,100,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Tuesday, January 2nd will be paid a $0.31 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.24 dividend on an annualized basis and a yield of 12.46%. Western Asset Mortgage Capital’s payout ratio is 210.17%.
Separately, Zacks Investment Research raised Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.00.
A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Western Asset Mortgage Capital by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 33,211 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 208 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Western Asset Mortgage Capital by 4.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,073 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 490 shares during the period. Voya Investment Management LLC grew its stake in Western Asset Mortgage Capital by 15.4% in the second quarter. Voya Investment Management LLC now owns 22,605 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 3,017 shares during the period. BNP Paribas Arbitrage SA grew its stake in Western Asset Mortgage Capital by 73.4% in the second quarter. BNP Paribas Arbitrage SA now owns 11,307 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 4,786 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Western Asset Mortgage Capital by 15.0% in the second quarter. Alliancebernstein L.P. now owns 38,400 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 5,000 shares during the period. 43.03% of the stock is owned by hedge funds and other institutional investors.
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Western Asset Mortgage Capital Company Profile
Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.
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