Angel Oak Mortgage REIT (NYSE:AOMR) Stock Rating Lowered by Wall Street Zen

Angel Oak Mortgage REIT (NYSE:AOMR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research upgraded Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Jones Trading reiterated a “buy” rating and issued a $10.50 target price on shares of Angel Oak Mortgage REIT in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Angel Oak Mortgage REIT has a consensus rating of “Moderate Buy” and a consensus target price of $11.60.

Angel Oak Mortgage REIT Stock Performance

Shares of AOMR opened at $8.94 on Friday. The company has a 50-day moving average of $9.35 and a two-hundred day moving average of $9.44. The stock has a market cap of $222.80 million, a price-to-earnings ratio of 12.60 and a beta of 1.36. The company has a debt-to-equity ratio of 6.87, a current ratio of 6.83 and a quick ratio of 6.83. Angel Oak Mortgage REIT has a one year low of $7.36 and a one year high of $10.88.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.26). Angel Oak Mortgage REIT had a net margin of 12.93% and a return on equity of 6.42%. The firm had revenue of $28.02 million for the quarter, compared to analyst estimates of $10.68 million. On average, equities research analysts expect that Angel Oak Mortgage REIT will post 0.03 earnings per share for the current year.

Insider Activity at Angel Oak Mortgage REIT

In related news, CFO Brandon Filson sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $9.78, for a total transaction of $489,000.00. Following the transaction, the chief financial officer owned 70,488 shares of the company’s stock, valued at approximately $689,372.64. This trade represents a 41.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $9.75, for a total transaction of $5,801,250.00. Following the completion of the sale, the insider owned 4,134,210 shares of the company’s stock, valued at $40,308,547.50. This trade represents a 12.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of Angel Oak Mortgage REIT in the first quarter worth about $25,000. BNP Paribas Financial Markets raised its stake in shares of Angel Oak Mortgage REIT by 343.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company’s stock valued at $37,000 after acquiring an additional 3,042 shares in the last quarter. M&T Bank Corp bought a new position in shares of Angel Oak Mortgage REIT in the 1st quarter valued at approximately $110,000. State of Wyoming acquired a new stake in Angel Oak Mortgage REIT in the 1st quarter worth approximately $116,000. Finally, Russell Investments Group Ltd. boosted its position in Angel Oak Mortgage REIT by 249.2% during the second quarter. Russell Investments Group Ltd. now owns 14,005 shares of the company’s stock worth $132,000 after purchasing an additional 9,994 shares during the period. 80.15% of the stock is owned by institutional investors and hedge funds.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, 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. It offers investment securities; residential mortgage loans; and commercial mortgage loans.