Angel Oak Mortgage REIT (NYSE:AOMR) Cut to Strong Sell at Zacks Research

Key Points

• Angel Oak Mortgage REIT (NYSE:AOMR) has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, signaling concerns about the company's performance.
• Various research firms have differing ratings on the stock, with UBS Group setting a price target of $10.50 and an overall consensus price target of $11.60.
• Recent insider selling activity includes CFO Brandon Filson disposing of 50,000 shares, indicating a possible lack of confidence from management.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on AOMR. UBS Group set a $10.50 price objective on Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Angel Oak Mortgage REIT in a research report on Saturday, September 27th. Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Jones Trading reaffirmed a "buy" rating and issued a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Angel Oak Mortgage REIT presently has an average rating of "Hold" and a consensus price target of $11.60.

Angel Oak Mortgage REIT Price Performance

Shares of NYSE AOMR opened at $9.34 on Monday. The stock's 50-day moving average is $9.57 and its two-hundred day moving average is $9.32. The company has a debt-to-equity ratio of 7.53, a current ratio of 17.69 and a quick ratio of 17.69. Angel Oak Mortgage REIT has a 1-year low of $7.36 and a 1-year high of $10.88. The company has a market cap of $221.80 million, a price-to-earnings ratio of 6.06 and a beta of 1.36.

Insider Buying and Selling

In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 50,000 shares of the stock in a transaction 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 directly owned 70,488 shares of the company's stock, valued at $689,372.64. This represents a 41.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $9.75, for a total value of $5,801,250.00. Following the sale, the insider owned 4,134,210 shares of the company's stock, valued at approximately $40,308,547.50. This trade represents a 12.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ritholtz Wealth Management lifted its stake in shares of Angel Oak Mortgage REIT by 162.4% in the first quarter. Ritholtz Wealth Management now owns 92,561 shares of the company's stock valued at $882,000 after buying an additional 57,283 shares during the period. Bank of New York Mellon Corp grew its holdings in Angel Oak Mortgage REIT by 29.4% during the 1st quarter. Bank of New York Mellon Corp now owns 235,002 shares of the company's stock worth $2,240,000 after acquiring an additional 53,463 shares during the period. Penserra Capital Management LLC boosted its position in shares of Angel Oak Mortgage REIT by 21.0% during the first quarter. Penserra Capital Management LLC now owns 117,075 shares of the company's stock worth $1,115,000 after purchasing an additional 20,356 shares in the last quarter. M&T Bank Corp bought a new stake in Angel Oak Mortgage REIT in the 1st quarter valued at $110,000. Finally, Wolverine Asset Management LLC lifted its position in Angel Oak Mortgage REIT by 34.8% during the 1st quarter. Wolverine Asset Management LLC now owns 86,136 shares of the company's stock worth $821,000 after buying an additional 22,222 shares in the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.

Angel Oak Mortgage REIT Company Profile

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.

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