Insider Buying: Orchid Island Capital Director Acquires 7,998 Shares of Stock (ORC)
Orchid Island Capital (NYSE:ORC) Director John Van Heuvelen bought 7,998 shares of the company’s stock on the open market in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $10.95 per share, with a total value of $87,578.10. Following the acquisition, the director now directly owns 14,664 shares in the company. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Ladenburg Thalmann cut their price target on shares of Orchid Island Capital (NYSE:ORC) from $15.75 to $14.75 in a research note to investors on Wednesday, July 10th. They now have a “buy” rating on the stock.
Shares of Orchid Island Capital (NYSE:ORC) traded up 0.54% during mid-day trading on Monday, hitting $10.899. 46,377 shares of the company’s stock traded hands. Orchid Island Capital has a 52-week low of $10.02 and a 52-week high of $15.40. The stock’s 50-day moving average is $10.97 and its 200-day moving average is $12.51.
The company also recently declared a monthly dividend, which is scheduled for Monday, September 30th. Investors of record on Wednesday, September 25th will be given a dividend of $0.14 per share. This represents a $1.62 dividend on an annualized basis and a yield of 14.86%. The ex-dividend date of this dividend is Monday, September 23rd.
Orchid Island Capital, Inc, is a specialty finance company that invests in residential mortgage-backed securities (NYSE:ORC).
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