Municipal Mortgage & Equity (MMAC) Board Approves Stock Buyback Plan

Municipal Mortgage & Equity (NASDAQ:MMAC) announced that its Board of Directors has initiated a share buyback program, which allows the company to buyback $130,000.00 in shares on Friday, March 16th. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Shares of NASDAQ:MMAC traded up $0.10 on Friday, reaching $27.35. The company had a trading volume of 12,010 shares, compared to its average volume of 12,034. Municipal Mortgage & Equity has a 52-week low of $18.00 and a 52-week high of $30.58. The company has a market capitalization of $157.07, a PE ratio of 9.03 and a beta of 0.79. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 0.99.

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Municipal Mortgage & Equity (NASDAQ:MMAC) last announced its quarterly earnings results on Friday, March 16th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter. Municipal Mortgage & Equity had a return on equity of 7.97% and a net margin of 46.92%. The business had revenue of $7.67 million for the quarter.

Separately, ValuEngine raised Municipal Mortgage & Equity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.

In other news, Director James Christopher Hunt purchased 3,215 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were acquired at an average price of $26.94 per share, for a total transaction of $86,612.10. Following the purchase, the director now owns 2,500 shares in the company, valued at $67,350. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Francis X. Gallagher, Jr. purchased 1,000 shares of the company’s stock in a transaction on Monday, March 26th. The shares were purchased at an average price of $27.28 per share, for a total transaction of $27,280.00. Following the purchase, the director now owns 32,278 shares in the company, valued at approximately $880,543.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 4,715 shares of company stock worth $127,657. 13.58% of the stock is owned by company insiders.

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About Municipal Mortgage & Equity

MMA Capital Management, LLC creates and manages investments in housing and renewable energy sectors in the United States and internationally. Its bond portfolio primarily comprises multifamily tax-exempt bonds, as well as other real estate related bond investments. The company offers leveraged bonds; low-income housing tax credits; asset management and administrative services to a limited liability company and a commercial bank; guarantees to third parties related to the receipt of tax credits; and debt capital to develop build, and operate renewable energy systems.

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