Insider Buying: Mohit Marria Acquires 42,500 Shares of Chimera Investment Corp. Stock (CIM)
Chimera Investment Corp. (NYSE:CIM) CIO Mohit Marria bought 42,500 shares of Chimera Investment Corp. stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $3.21 per share, for a total transaction of $136,425.00. Following the purchase, the executive now directly owns 120,034 shares in the company, valued at approximately $385,309. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Chimera Investment Corp. (NYSE:CIM) opened at 3.24 on Wednesday. Chimera Investment Corp. has a 52 week low of $2.89 and a 52 week high of $3.34. The stock’s 50-day moving average is $3.19 and its 200-day moving average is $3.14. The company has a market cap of $3.329 billion and a price-to-earnings ratio of 9.85.
Chimera Investment Corp. (NYSE:CIM) last announced its earnings results on Monday, August 11th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.01. Analysts expect that Chimera Investment Corp. will post $0.39 EPS for the current fiscal year.
A number of analysts have recently weighed in on CIM shares. Analysts at Zacks downgraded shares of Chimera Investment Corp. to a “neutral” rating in a research note on Friday, August 15th. 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, August 15th. 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, August 14th. They now have a $3.10 price target on the stock, up previously from $3.00. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Chimera Investment Corp. presently 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.
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