Western Asset Mortgage Capital (NYSE:WMC) Downgraded by Zacks Investment Research to Hold

Western Asset Mortgage Capital (NYSE:WMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “

Western Asset Mortgage Capital stock opened at $4.14 on Wednesday. Western Asset Mortgage Capital has a 12-month low of $1.88 and a 12-month high of $4.19. The business has a 50-day moving average price of $3.24. The company has a market cap of $251.77 million, a price-to-earnings ratio of 4.10 and a beta of 2.17. The company has a quick ratio of 1,242.58, a current ratio of 1,242.58 and a debt-to-equity ratio of 11.18.

Western Asset Mortgage Capital (NYSE:WMC) last posted its earnings results on Wednesday, May 5th. The financial services provider reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Western Asset Mortgage Capital had a net margin of 37.18% and a return on equity of 10.74%. Equities analysts forecast that Western Asset Mortgage Capital will post 0.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in Western Asset Mortgage Capital during the 1st quarter valued at about $130,000. Punch & Associates Investment Management Inc. grew its position in shares of Western Asset Mortgage Capital by 22.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 49,300 shares of the financial services provider’s stock worth $157,000 after buying an additional 9,000 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Western Asset Mortgage Capital in the 1st quarter worth approximately $125,000. Goldman Sachs Group Inc. grew its position in shares of Western Asset Mortgage Capital by 53.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 41,444 shares of the financial services provider’s stock worth $132,000 after buying an additional 14,388 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Western Asset Mortgage Capital by 13.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,083,413 shares of the financial services provider’s stock worth $3,456,000 after buying an additional 125,399 shares during the last quarter. 34.64% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Mortgage Capital Company Profile

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on acquiring, investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, asset-backed securities investments, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.

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