MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 100,311 Shares of Two Harbors Investments Corp $TWO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its stake in Two Harbors Investments Corp by 12.7%, owning a total of 890,627 shares worth approximately $11.9 million.
• Several hedge funds have significantly increased their positions in Two Harbors, with CWM LLC growing its stake by 68.4% during the same period.
• Analysts have mixed opinions on the stock, with research firms reducing price targets and assigning ratings ranging from "buy" to "hold," reflecting varied confidence in Two Harbors' future performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Two Harbors Investments Corp (NYSE:TWO - Free Report) by 12.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 890,627 shares of the real estate investment trust's stock after buying an additional 100,311 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.86% of Two Harbors Investments worth $11,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Two Harbors Investments by 68.4% in the first quarter. CWM LLC now owns 2,192 shares of the real estate investment trust's stock worth $29,000 after buying an additional 890 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in Two Harbors Investments by 29.2% during the first quarter. Montag A & Associates Inc. now owns 5,285 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 1,193 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Two Harbors Investments by 233.0% during the first quarter. Smartleaf Asset Management LLC now owns 6,506 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 4,552 shares in the last quarter. Wolverine Trading LLC lifted its holdings in Two Harbors Investments by 866.3% during the fourth quarter. Wolverine Trading LLC now owns 10,533 shares of the real estate investment trust's stock valued at $122,000 after purchasing an additional 9,443 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Two Harbors Investments during the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 64.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TWO. JMP Securities reaffirmed a "market perform" rating on shares of Two Harbors Investments in a report on Thursday, July 3rd. UBS Group lowered their price target on shares of Two Harbors Investments from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Maxim Group lowered their price target on shares of Two Harbors Investments from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Royal Bank Of Canada reduced their price objective on shares of Two Harbors Investments from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. Finally, Citizens Jmp reiterated a "market perform" rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.43.

Insiders Place Their Bets

In other news, CIO Nicholas Letica sold 8,654 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $10.02, for a total transaction of $86,713.08. Following the completion of the sale, the executive directly owned 160,281 shares of the company's stock, valued at approximately $1,606,015.62. The trade was a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Two Harbors Investments Stock Performance

TWO remained flat at $10.05 during trading hours on Friday. 1,226,271 shares of the company traded hands, compared to its average volume of 1,791,132. The firm has a 50 day moving average of $10.07 and a 200-day moving average of $11.24. Two Harbors Investments Corp has a 12 month low of $9.49 and a 12 month high of $14.28. The firm has a market cap of $1.05 billion, a PE ratio of -2.82 and a beta of 1.28. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.08.

Two Harbors Investments (NYSE:TWO - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting analysts' consensus estimates of $0.28. Two Harbors Investments had a negative net margin of 67.06% and a positive return on equity of 9.39%. The business had revenue of ($18.12) million for the quarter, compared to analysts' expectations of ($23.29) million. On average, analysts forecast that Two Harbors Investments Corp will post 0.81 earnings per share for the current year.

Two Harbors Investments Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 13.5%. Two Harbors Investments's payout ratio is -43.82%.

About Two Harbors Investments

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.