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Angel Oak Mortgage, Inc. (NYSE:AOMR) Sees Large Decline in Short Interest

Financial News Live · Aug 31, 2022 23:02

Angel Oak Mortgage, Inc. (NYSE:AOMR – Get Rating) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 234,000 shares, a decrease of 14.2% from the July 31st total of 272,700 shares. Approximately 1.0% of the company's shares are short sold. Based on an average daily trading volume, of 46,100 shares, the days-to-cover ratio is presently 5.1 days.

Angel Oak Mortgage Trading Up 3.7 %

NYSE:AOMR traded up $0.50 during mid-day trading on Wednesday, hitting $13.87. The company had a trading volume of 79,624 shares, compared to its average volume of 54,965. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.12 and a current ratio of 2.12. Angel Oak Mortgage has a fifty-two week low of $12.20 and a fifty-two week high of $18.73. The firm has a market cap of $345.88 million, a P/E ratio of -3.93, a P/E/G ratio of 0.51 and a beta of 0.76. The business's fifty day moving average is $14.19 and its two-hundred day moving average is $14.99.

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Angel Oak Mortgage (NYSE:AOMR – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.45. Angel Oak Mortgage had a negative net margin of 90.64% and a positive return on equity of 19.96%. The business had revenue of $29.70 million for the quarter, compared to analyst estimates of $30.20 million. As a group, research analysts expect that Angel Oak Mortgage will post 3.13 earnings per share for the current year.

Angel Oak Mortgage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Monday, August 22nd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.98%. The ex-dividend date of this dividend is Friday, August 19th. Angel Oak Mortgage's dividend payout ratio is currently -50.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in shares of Angel Oak Mortgage by 17.3% in the second quarter. American International Group Inc. now owns 5,583 shares of the company's stock valued at $72,000 after buying an additional 822 shares during the period. Raymond James & Associates increased its holdings in Angel Oak Mortgage by 9.3% during the 1st quarter. Raymond James & Associates now owns 12,460 shares of the company's stock worth $204,000 after purchasing an additional 1,060 shares in the last quarter. Strs Ohio raised its stake in shares of Angel Oak Mortgage by 64.7% in the 2nd quarter. Strs Ohio now owns 2,800 shares of the company's stock valued at $36,000 after purchasing an additional 1,100 shares during the period. UBS Group AG lifted its holdings in shares of Angel Oak Mortgage by 2.5% in the first quarter. UBS Group AG now owns 85,125 shares of the company's stock valued at $1,397,000 after purchasing an additional 2,055 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Angel Oak Mortgage by 146.7% during the fourth quarter. New York State Common Retirement Fund now owns 3,700 shares of the company's stock worth $61,000 after buying an additional 2,200 shares during the period. 84.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AOMR has been the topic of several recent research reports. UBS Group cut Angel Oak Mortgage from a "buy" rating to a "neutral" rating and decreased their price target for the company from $19.50 to $14.50 in a report on Wednesday, June 1st. B. Riley reduced their target price on shares of Angel Oak Mortgage from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, July 21st. Finally, Wells Fargo & Company dropped their price target on shares of Angel Oak Mortgage from $17.00 to $15.00 and set an "overweight" rating for the company in a research note on Wednesday, August 10th.

About Angel Oak Mortgage

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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.