Angel Oak Mortgage REIT (NYSE:AOMR) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective reduced by analysts at Wells Fargo & Company from $13.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 22.45% from the company’s current price.

Separately, BTIG Research assumed coverage on Angel Oak Mortgage REIT in a research report on Wednesday, July 31st. They issued a “buy” rating and a $13.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.00.

Angel Oak Mortgage REIT Stock Up 2.7 %

Angel Oak Mortgage REIT stock opened at $9.80 on Thursday. Angel Oak Mortgage REIT has a fifty-two week low of $8.88 and a fifty-two week high of $13.31. The company has a debt-to-equity ratio of 5.36, a quick ratio of 16.23 and a current ratio of 16.23. The firm’s 50-day simple moving average is $10.08 and its 200 day simple moving average is $11.30. The stock has a market cap of $228.54 million, a PE ratio of 4.82 and a beta of 1.43.

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

Insider Buying and Selling at Angel Oak Mortgage REIT

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

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Several hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in Angel Oak Mortgage REIT in the 2nd quarter worth about $35,000. Allspring Global Investments Holdings LLC purchased a new position in Angel Oak Mortgage REIT during the third quarter valued at approximately $40,000. Renaissance Technologies LLC increased its holdings in Angel Oak Mortgage REIT by 21.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock worth $330,000 after acquiring an additional 4,400 shares during the period. Ritholtz Wealth Management lifted its stake in Angel Oak Mortgage REIT by 35.0% in the 2nd quarter. Ritholtz Wealth Management now owns 39,212 shares of the company’s stock worth $514,000 after purchasing an additional 10,171 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Angel Oak Mortgage REIT by 332.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,573 shares of the company’s stock valued at $618,000 after purchasing an additional 44,256 shares during the period. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

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.