Shares of Angel Oak Mortgage, Inc. (NYSE:AOMR – Get Rating) shot up 5% during trading on Thursday . The stock traded as high as $7.62 and last traded at $7.61. 117,449 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 196,921 shares. The stock had previously closed at $7.25.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on AOMR. B. Riley downgraded shares of Angel Oak Mortgage from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $10.00 to $15.00 in a report on Monday, November 21st. Bank of America downgraded shares of Angel Oak Mortgage from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $15.50 to $6.50 in a report on Monday, December 5th. Finally, Wells Fargo & Company lowered their target price on shares of Angel Oak Mortgage from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, November 9th.
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The firm's 50-day moving average is $6.88 and its two-hundred day moving average is $10.94. The company has a market cap of $189.77 million, a P/E ratio of -1.06, a PEG ratio of 0.72 and a beta of 0.53. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.43 and a quick ratio of 2.43.
Angel Oak Mortgage Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Tuesday, November 22nd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 16.82%. The ex-dividend date was Monday, November 21st. Angel Oak Mortgage's dividend payout ratio is presently -17.83%.Insider Buying and Selling
In related news, CFO Brandon Filson sold 20,000 shares of the business's stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $6.90, for a total value of $138,000.00. Following the sale, the chief financial officer now owns 98,814 shares in the company, valued at $681,816.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jonathan Morgan acquired 4,000 shares of the business's stock in a transaction on Wednesday, November 30th. The shares were acquired at an average price of $7.34 per share, for a total transaction of $29,360.00. Following the completion of the transaction, the director now directly owns 22,226 shares of the company's stock, valued at approximately $163,138.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brandon Filson sold 20,000 shares of the business's stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $6.90, for a total transaction of $138,000.00. Following the transaction, the chief financial officer now owns 98,814 shares in the company, valued at approximately $681,816.60. The disclosure for this sale can be found here.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Strs Ohio increased its position in Angel Oak Mortgage by 64.7% during the second quarter. Strs Ohio now owns 2,800 shares of the company's stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. American International Group Inc. increased its position in Angel Oak Mortgage by 23.3% during the first quarter. American International Group Inc. now owns 4,761 shares of the company's stock valued at $78,000 after acquiring an additional 900 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in shares of Angel Oak Mortgage during the third quarter valued at $75,000. Raymond James & Associates boosted its stake in shares of Angel Oak Mortgage by 9.3% during the first quarter. Raymond James & Associates now owns 12,460 shares of the company's stock valued at $204,000 after purchasing an additional 1,060 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of Angel Oak Mortgage during the second quarter valued at $219,000. Institutional investors own 85.16% of the company's stock.
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.
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