Angel Oak Mortgage (NYSE:AOMR) Shares Down 6.3%

Angel Oak Mortgage, Inc. (NYSE:AOMRGet Rating)’s stock price was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $13.98 and last traded at $14.00. Approximately 153,491 shares traded hands during trading, an increase of 163% from the average daily volume of 58,297 shares. The stock had previously closed at $14.94.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AOMR shares. Wells Fargo & Company dropped their target price on Angel Oak Mortgage from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. UBS Group lowered Angel Oak Mortgage from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.50 to $14.50 in a report on Wednesday, June 1st. Finally, B. Riley lowered their price target on Angel Oak Mortgage from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, July 21st.

Angel Oak Mortgage Stock Performance

The business has a 50-day moving average price of $14.43 and a 200-day moving average price of $14.72. The firm has a market capitalization of $333.16 million, a price-to-earnings ratio of -3.65, a P/E/G ratio of 0.52 and a beta of 0.71. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.59.

Angel Oak Mortgage (NYSE:AOMRGet Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.45. The business had revenue of $29.70 million for the quarter, compared to the consensus estimate of $30.20 million. Angel Oak Mortgage had a positive return on equity of 19.96% and a negative net margin of 90.64%. As a group, sell-side analysts forecast that Angel Oak Mortgage, Inc. will post 3.13 earnings per share for the current year.

Angel Oak Mortgage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Monday, August 22nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.47%. The ex-dividend date was Friday, August 19th. Angel Oak Mortgage’s dividend payout ratio (DPR) is presently -50.99%.

Institutional Investors Weigh In On Angel Oak Mortgage

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in Angel Oak Mortgage by 79.0% in the first quarter. Goldman Sachs Group Inc. now owns 855,022 shares of the company’s stock valued at $14,031,000 after purchasing an additional 377,299 shares during the last quarter. Equitec Proprietary Markets LLC purchased a new stake in Angel Oak Mortgage in the first quarter valued at $2,462,000. Centiva Capital LP boosted its holdings in Angel Oak Mortgage by 44.8% in the fourth quarter. Centiva Capital LP now owns 443,232 shares of the company’s stock valued at $7,260,000 after purchasing an additional 137,087 shares during the last quarter. Masters Capital Management LLC boosted its holdings in Angel Oak Mortgage by 20.0% in the fourth quarter. Masters Capital Management LLC now owns 600,000 shares of the company’s stock valued at $9,828,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Davidson Kempner Capital Management LP boosted its holdings in Angel Oak Mortgage by 1.2% in the second quarter. Davidson Kempner Capital Management LP now owns 7,389,791 shares of the company’s stock valued at $95,772,000 after purchasing an additional 85,431 shares during the last quarter. 84.30% of the stock is owned by hedge funds and other institutional investors.

About Angel Oak Mortgage

(Get Rating)

Angel Oak Mortgage, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

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