Municipal Mortgage & Equity, LLC (NASDAQ:MMAC) CEO Michael L. Falcone acquired 500 shares of the stock in a transaction dated Thursday, April 12th. The shares were bought at an average price of $27.75 per share, with a total value of $13,875.00. Following the completion of the transaction, the chief executive officer now directly owns 183,057 shares of the company’s stock, valued at $5,079,831.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ MMAC opened at $27.20 on Tuesday. Municipal Mortgage & Equity, LLC has a one year low of $18.00 and a one year high of $30.58. The company has a market cap of $157.65, a P/E ratio of 9.21 and a beta of 0.79. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 0.99.
Municipal Mortgage & Equity (NASDAQ:MMAC) last released its earnings results on Friday, March 16th. The financial services provider reported $0.84 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 during the quarter.
Municipal Mortgage & Equity announced that its board has approved a stock repurchase program on Monday, January 8th that allows the company to buyback shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MMAC. Santa Monica Partners LP acquired a new stake in Municipal Mortgage & Equity during the fourth quarter worth approximately $729,000. Advisor Group Inc. acquired a new stake in Municipal Mortgage & Equity during the fourth quarter worth approximately $127,000. Renaissance Technologies LLC grew its stake in Municipal Mortgage & Equity by 41.9% during the fourth quarter. Renaissance Technologies LLC now owns 15,551 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 4,589 shares during the period. Wells Fargo & Company MN grew its stake in Municipal Mortgage & Equity by 101.6% during the fourth quarter. Wells Fargo & Company MN now owns 5,833 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 2,939 shares during the period. Finally, Deutsche Bank AG grew its stake in Municipal Mortgage & Equity by 8.4% during the fourth quarter. Deutsche Bank AG now owns 36,200 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 2,800 shares during the period. 11.41% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine downgraded Municipal Mortgage & Equity from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd.
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Municipal Mortgage & Equity Company Profile
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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