Western Asset Mortgage Capit (WMC) Upgraded at ValuEngine

Western Asset Mortgage Capit (NYSE:WMC) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Zacks Investment Research raised Western Asset Mortgage Capit from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.00.

Shares of WMC opened at $9.97 on Thursday. The company has a market capitalization of $406.20, a PE ratio of 8.67 and a beta of 0.39. The company has a debt-to-equity ratio of 7.23, a quick ratio of 140.92 and a current ratio of 140.92. Western Asset Mortgage Capit has a one year low of $8.54 and a one year high of $10.95.

Western Asset Mortgage Capit (NYSE:WMC) last announced its earnings results on Monday, March 5th. The financial services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $18.01 million for the quarter, compared to the consensus estimate of $18.85 million. Western Asset Mortgage Capit had a return on equity of 13.10% and a net margin of 54.99%. Western Asset Mortgage Capit’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. sell-side analysts expect that Western Asset Mortgage Capit will post 1.43 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in WMC. Wolverine Asset Management LLC acquired a new position in shares of Western Asset Mortgage Capit in the 4th quarter worth approximately $4,615,000. Municipal Employees Retirement System of Michigan acquired a new position in Western Asset Mortgage Capit during the 4th quarter worth $892,000. Two Sigma Investments LP lifted its holdings in Western Asset Mortgage Capit by 170.6% during the 4th quarter. Two Sigma Investments LP now owns 85,220 shares of the financial services provider’s stock worth $848,000 after buying an additional 53,728 shares in the last quarter. Millennium Management LLC acquired a new position in Western Asset Mortgage Capit during the 4th quarter worth $297,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Western Asset Mortgage Capit by 7.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 381,531 shares of the financial services provider’s stock worth $3,995,000 after buying an additional 27,023 shares in the last quarter. 43.07% of the stock is currently owned by institutional investors and hedge funds.

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About Western Asset Mortgage Capit

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, and other financial assets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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