Advisors Asset Management Inc. Sells 164,973 Shares of Chimera Investment Corporation $CIM

Key Points

• Advisors Asset Management Inc. reduced its stake in Chimera Investment Corporation by 39.2% during the 1st quarter, now owning approximately 0.32% of the company valued at $3.3 million.
• Several institutional investors have made significant changes to their holdings in Chimera, with LSV Asset Management increasing its stake by 306.2%.
• Chimera's recent quarterly earnings showed an EPS of $0.39, missing expectations, and the company announced a quarterly dividend yielding 10.1% annually.

Advisors Asset Management Inc. cut its position in Chimera Investment Corporation (NYSE:CIM - Free Report) by 39.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,384 shares of the real estate investment trust's stock after selling 164,973 shares during the quarter. Advisors Asset Management Inc. owned 0.32% of Chimera Investment worth $3,277,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Chimera Investment by 8,728.6% during the first quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 3,666 shares during the period. Motiv8 Investments LLC purchased a new position in shares of Chimera Investment during the first quarter valued at approximately $131,000. Sigma Planning Corp purchased a new position in shares of Chimera Investment during the first quarter valued at approximately $131,000. PharVision Advisers LLC purchased a new position in Chimera Investment in the fourth quarter worth $178,000. Finally, Vident Advisory LLC purchased a new position in Chimera Investment in the fourth quarter worth $184,000. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Stock Down 1.8%

Shares of NYSE:CIM traded down $0.26 during trading on Friday, hitting $14.17. The stock had a trading volume of 468,344 shares, compared to its average volume of 470,606. Chimera Investment Corporation has a 12 month low of $9.85 and a 12 month high of $16.89. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 4.47. The company has a market capitalization of $1.15 billion, a PE ratio of 11.24 and a beta of 1.85. The firm's fifty day moving average is $13.94 and its 200 day moving average is $13.33.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). The business had revenue of $66.01 million for the quarter, compared to analysts' expectations of $83.89 million. Chimera Investment had a net margin of 21.93% and a return on equity of 7.28%. Analysts anticipate that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIM has been the topic of several research reports. Keefe, Bruyette & Woods lowered their target price on Chimera Investment from $16.50 to $15.00 and set a "market perform" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen lowered Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group upped their price objective on Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chimera Investment currently has an average rating of "Hold" and a consensus target price of $15.50.

Chimera Investment Company Profile

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.