MMA Capital Management LLC (NASDAQ:MMAC) insider Gary A. Mentesana purchased 890 shares of MMA Capital Management stock in a transaction dated Thursday, June 14th. The stock was bought at an average price of $27.40 per share, for a total transaction of $24,386.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of MMAC traded down $0.30 during mid-day trading on Thursday, reaching $26.85. The company had a trading volume of 16,000 shares, compared to its average volume of 11,354. MMA Capital Management LLC has a 1-year low of $18.00 and a 1-year high of $30.58. The company has a current ratio of 27.99, a quick ratio of 11.94 and a debt-to-equity ratio of 1.15. The company has a market cap of $153.08 million, a P/E ratio of 8.31 and a beta of 0.66.
MMA Capital Management (NASDAQ:MMAC) last posted its quarterly earnings results on Friday, March 16th. The financial services provider reported $0.84 earnings per share for the quarter. MMA Capital Management had a net margin of 115.03% and a return on equity of 9.15%. The company had revenue of $7.67 million for the quarter.
MMA Capital Management announced that its board has approved a stock repurchase program on Friday, March 16th that allows the company to buyback $130,000.00 in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently bought and sold shares of MMAC. Santa Monica Partners LP acquired a new stake in MMA Capital Management during the 4th quarter worth approximately $729,000. Dimensional Fund Advisors LP boosted its position in MMA Capital Management by 107.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,887 shares of the financial services provider’s stock worth $514,000 after buying an additional 9,764 shares during the period. Sei Investments Co. acquired a new stake in MMA Capital Management during the 1st quarter worth approximately $161,000. Advisor Group Inc. acquired a new stake in MMA Capital Management during the 4th quarter worth approximately $127,000. Finally, Renaissance Technologies LLC boosted its position in MMA Capital Management by 41.9% during the 4th quarter. Renaissance Technologies LLC now owns 15,551 shares of the financial services provider’s stock worth $378,000 after buying an additional 4,589 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.
Separately, ValuEngine downgraded shares of MMA Capital Management from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd.
About MMA Capital Management
MMA Capital Management, LLC creates and manages investments in housing and renewable energy sectors in the United States and internationally. Its investments in debt securities 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; and guarantees to the institutional investors related to the receipt of tax credits.
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