Western Asset Mortgage Capital (WMC) Trading Down 5.3%

Western Asset Mortgage Capital Corp (NYSE:WMC) traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $9.93 and last traded at $10.00. 2,817,200 shares were traded during mid-day trading, an increase of 773% from the average session volume of 322,637 shares. The stock had previously closed at $10.56.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Western Asset Mortgage Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, March 21st. Keefe, Bruyette & Woods assumed coverage on shares of Western Asset Mortgage Capital in a report on Sunday, March 17th. They issued a “market perform” rating and a $10.50 price target on the stock.

The firm has a market capitalization of $507.32 million, a PE ratio of 7.35 and a beta of 0.74. The company has a current ratio of 700.59, a quick ratio of 700.59 and a debt-to-equity ratio of 7.51.

Western Asset Mortgage Capital (NYSE:WMC) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $15.63 million for the quarter, compared to analyst estimates of $20.90 million. Western Asset Mortgage Capital had a net margin of 13.99% and a return on equity of 11.99%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Equities analysts anticipate that Western Asset Mortgage Capital Corp will post 1.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.40%. The ex-dividend date of this dividend was Friday, March 29th. Western Asset Mortgage Capital’s payout ratio is 91.18%.

In related news, insider Dennis Joseph Mcnamara bought 3,446 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average price of $10.34 per share, with a total value of $35,631.64. Following the purchase, the insider now owns 5,204 shares of the company’s stock, valued at approximately $53,809.36. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Western Asset Mortgage Capital during the 1st quarter valued at about $26,000. Advisor Group Inc. boosted its stake in shares of Western Asset Mortgage Capital by 70.1% during the 1st quarter. Advisor Group Inc. now owns 4,835 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,993 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Western Asset Mortgage Capital by 21.5% during the 3rd quarter. Legal & General Group Plc now owns 6,845 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,212 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Western Asset Mortgage Capital during the 4th quarter valued at about $92,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Western Asset Mortgage Capital by 139.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,737 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 5,669 shares in the last quarter. 47.28% of the stock is currently owned by hedge funds and other institutional investors.

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Western Asset Mortgage Capital Company Profile (NYSE:WMC)

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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