Western Asset Mortgage Capital Corp (WMC) was Upgraded by Wunderlich to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 11 from a previous price target of $9.50 . Earlier the firm had a rating of “Hold ” on the company shares. Wunderlich advised their investors in a research report released on Aug 5, 2016.
Many Wall Street Analysts have commented on Western Asset Mortgage Capital Corp. Western Asset Mortgage Capital Corp was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016. 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 .
On the company’s financial health, Western Asset Mortgage Capital Corp reported $0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.32. The company had revenue of $21.50 million for the quarter, compared to analysts expectations of $17.58 million. The company’s revenue was down -37.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.76 EPS.
Western Asset Mortgage Capital Corp opened for trading at $9.95 and hit $10.19 on the upside on Thursday, eventually ending the session at $10.19, with a gain of 2.62% or 0.26 points. The heightened volatility saw the trading volume jump to 5,71,287 shares. Company has a market cap of $427 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).