Wells Fargo & Company Has Lowered Expectations for Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective dropped by Wells Fargo & Company from $13.00 to $12.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 24.87% from the stock’s previous close.

Separately, BTIG Research started coverage on shares of Angel Oak Mortgage REIT in a report on Wednesday, July 31st. They set a “buy” rating and a $13.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

Angel Oak Mortgage REIT Stock Up 0.6 %

Shares of AOMR traded up $0.06 during trading hours on Thursday, reaching $9.61. The company’s stock had a trading volume of 12,804 shares, compared to its average volume of 85,499. The company has a 50 day moving average of $10.11 and a two-hundred day moving average of $11.31. The company has a quick ratio of 16.23, a current ratio of 16.23 and a debt-to-equity ratio of 5.36. The firm has a market cap of $224.13 million, a price-to-earnings ratio of 4.85 and a beta of 1.43. Angel Oak Mortgage REIT has a 1-year low of $8.88 and a 1-year high of $13.31.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.23). The firm had revenue of $25.90 million for the quarter, compared to analyst estimates of $25.50 million. Angel Oak Mortgage REIT had a net margin of 49.69% and a negative return on equity of 6.67%. As a group, research analysts predict that Angel Oak Mortgage REIT will post 0.4 EPS for the current fiscal year.

Insider Transactions at Angel Oak Mortgage REIT

In related news, Director Jonathan Morgan sold 4,377 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.17, for a total value of $53,268.09. Following the transaction, the director now directly owns 33,059 shares in the company, valued at approximately $402,328.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Brandon Filson sold 22,894 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.02, for a total transaction of $252,291.88. Following the completion of the transaction, the chief financial officer now directly owns 75,818 shares in the company, valued at $835,514.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Morgan sold 4,377 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.17, for a total value of $53,268.09. Following the completion of the sale, the director now directly owns 33,059 shares of the company’s stock, valued at $402,328.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,571 shares of company stock worth $403,502. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC bought a new position in Angel Oak Mortgage REIT during the third quarter valued at about $616,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Angel Oak Mortgage REIT in the third quarter valued at $40,000. Ritholtz Wealth Management lifted its position in Angel Oak Mortgage REIT by 32.3% in the third quarter. Ritholtz Wealth Management now owns 51,862 shares of the company’s stock worth $541,000 after purchasing an additional 12,650 shares during the period. Renaissance Technologies LLC lifted its position in Angel Oak Mortgage REIT by 21.2% in the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock worth $330,000 after purchasing an additional 4,400 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in Angel Oak Mortgage REIT during the second quarter worth $35,000. Institutional investors and hedge funds own 80.15% of the company’s stock.

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.