Western Asset Mortgage Capital Corp (WMC) is Downgraded by BofA/Merrill to Neutral

Western Asset Mortgage Capital Corp (WMC) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on Western Asset Mortgage Capital Corp. Company shares were Upgraded by Wunderlich on Jun 27, 2016 to ” Hold”, Firm has raised the Price Target to $ 9.50 from a previous price target of $8 .Shares were Downgraded by Wunderlich on May 10, 2016 to ” Sell” and Lowered the Price Target to $ 8 from a previous price target of $10 .Western Asset Mortgage Capital Corp was Downgraded by Wells Fargo to ” Underperform” on Apr 11, 2016.

On the company’s financial health, Western Asset Mortgage Capital Corp reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $0.39.Analysts expectations of $ 24.94.During the same quarter in the previous year, the company posted $0.82 EPS.

Western Asset Mortgage Capital Corp opened for trading at $9.58 and hit $9.63 on the upside on Monday, eventually ending the session at $9.43, with a gain of 1.07% or 0.1 points. The heightened volatility saw the trading volume jump to 6,86,464 shares. Company has a market cap of $395 M.

In a different news, on Apr 13, 2016, Gavin L James (CEO) purchased 730 shares at $15.21 per share price. According to the SEC, on Dec 28, 2015, Elliott Neumayer (COO) purchased 200 shares at $10.84 per share price.

Western Asset Mortgage Capital Corporation is a specialty financial real estate investment trust (REIT) managing a diversified mortgage-market investment portfolio including undervalued assets. The Company’s is primarily focused on investing in financing and managing Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)) Non-Agency RMBS and Agency and Non-Agency commercial mortgage-backed securities (CMBS). In addition the Company also invests in other securities including certain Agency obligations that are not technically mortgage-backed securities (MBS) as well as certain Non United States CMBS and asset-backed securities (ABS) investments secured by a portfolio private student loans and interests in residential whole-loans. The Company is externally managed and advised by Western Asset Management Company (the Manager).

Western Asset Mortgage Capital Corp

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