Short Term Price Target on Chimera Investment Corporation (CIM)

Chimera Investment Corporation (NYSE:CIM) : The consensus price target for Chimera Investment Corporation (NYSE:CIM) is $14.25 for the short term with a standard deviation of $0.35. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $15, however, the pessimist price target for the company is $14.

Shares of Chimera Investment Corporation rose by 3.84% in the last five trading days and 6.92% for the last 4 weeks. Chimera Investment Corporation is up 19.64% in the last 3-month period. Year-to-Date the stock performance stands at 27.6%. Also, Brokerage firm Wells Fargo downgrades its rating on Chimera Investment Corporation (NYSE:CIM). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on May 4, 2016.

Chimera Investment Corporation (NYSE:CIM) : The consensus on Chimera Investment Corporation (NYSE:CIM) based on 4 analyst recommendation on the company stock is 3.5, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Chimera Investment Corporation (NYSE:CIM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.44 and $15.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.70, notching a gain of 1.82% for the day. The total traded volume was 2,639,802 . The stock had closed at $15.42 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Chimera Investment Corp, Mahoney Dennis, had purchased 4,500 shares in a transaction dated on February 29, 2016. The transaction was executed at $13.11 per share with total amount equaling $58,995.

Chimera Investment Corporation is a specialty finance company. The Company, through its subsidiaries, invests in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes. The Company is externally managed by Fixed Income Discount Advisory Company.

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