Insider Buying: Mohit Marria Purchases 42,500 Shares of Chimera Investment Corp. Stock (CIM)
Chimera Investment Corp. (NYSE:CIM) CIO Mohit Marria purchased 42,500 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $3.21 per share, with a total value of $136,425.00. Following the transaction, the executive now directly owns 120,034 shares in the company, valued at approximately $385,309. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Chimera Investment Corp. (NYSE:CIM) remained flat at $3.25 during during mid-day trading trading on Monday. The stock had a trading volume of 3,502,810 shares. Chimera Investment Corp. has a 52 week low of $2.89 and a 52 week high of $3.34. The stock has a 50-day moving average of $3.18 and a 200-day moving average of $3.14. The company has a market cap of $3.339 billion and a price-to-earnings ratio of 9.85.
Chimera Investment Corp. (NYSE:CIM) last released its earnings data on Monday, August 11th. The company reported $0.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.01. On average, analysts predict that Chimera Investment Corp. will post $0.39 earnings per share for the current fiscal year.
A number of research firms have recently commented on CIM. Analysts at Zacks downgraded shares of Chimera Investment Corp. to a “neutral” rating in a research note on Friday. They now have a $3.30 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Chimera Investment Corp. from $3.00 to $3.10 in a research note on Friday. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Chimera Investment Corp. in a research note on Thursday. They now have a $3.10 price target on the stock, up previously from $3.00. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $3.19.
Chimera Investment Corporation is a specialty finance company that invests, either directly or indirectly through its subsidiaries, in residential mortgage-backed securities (NYSE:CIM), residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes.