Angel Oak Mortgage REIT (NYSE:AOMR) Given "Hold (C-)" Rating at Weiss Ratings

Key Points

• Angel Oak Mortgage REIT (NYSE:AOMR) has been given a "Hold (C-)" rating by Weiss Ratings, indicating a cautious outlook on the stock.
• The company has a consensus rating of "Hold" with an average target price of $11.60, despite varying opinions from other analysts.
• Recent trading activity includes significant insider sales, with major shareholder Davidson Kempner Capital Management selling 595,000 shares at an average price of $9.75.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report)'s stock had its "hold (c-)" rating restated by equities researchers at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other equities research analysts also recently commented on the stock. UBS Group set a $10.50 target price on shares of Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Jones Trading reiterated a "buy" rating and set a $10.50 target price on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 5th. Zacks Research lowered shares of Angel Oak Mortgage REIT from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Finally, Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.60.

Angel Oak Mortgage REIT Price Performance

Angel Oak Mortgage REIT stock traded up $0.06 during trading hours on Friday, reaching $9.36. 77,990 shares of the stock were exchanged, compared to its average volume of 130,445. The company has a market cap of $222.27 million, a P/E ratio of 6.07 and a beta of 1.36. The company has a current ratio of 17.69, a quick ratio of 17.69 and a debt-to-equity ratio of 7.53. Angel Oak Mortgage REIT has a twelve month low of $7.36 and a twelve month high of $10.88. The stock has a 50 day moving average of $9.58 and a two-hundred day moving average of $9.32.

Insider Buying and Selling

In related news, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $9.75, for a total value of $5,801,250.00. Following the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 70,488 shares in the company, valued at $689,372.64. This represents a 41.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Riverbridge Partners LLC grew its position in Angel Oak Mortgage REIT by 2.2% during the third quarter. Riverbridge Partners LLC now owns 82,959 shares of the company's stock valued at $777,000 after acquiring an additional 1,788 shares during the last quarter. BNP Paribas Financial Markets grew its position in Angel Oak Mortgage REIT by 343.0% during the second 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 during the last quarter. Bank of America Corp DE grew its position in Angel Oak Mortgage REIT by 253.0% during the second quarter. Bank of America Corp DE now owns 24,516 shares of the company's stock valued at $231,000 after acquiring an additional 17,571 shares during the last quarter. Vivaldi Capital Management LP grew its position in Angel Oak Mortgage REIT by 5.7% during the second quarter. Vivaldi Capital Management LP now owns 116,379 shares of the company's stock valued at $1,096,000 after acquiring an additional 6,274 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Angel Oak Mortgage REIT by 9.8% during the second quarter. Marshall Wace LLP now owns 196,082 shares of the company's stock valued at $1,847,000 after acquiring an additional 17,579 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

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.

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