Western Asset Mortgage Capital (NYSE:WMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

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 (NYSE WMC) traded down $0.04 during trading hours on Friday, hitting $10.00. The stock had a trading volume of 188,827 shares, compared to its average volume of 266,209. The stock has a market capitalization of $419.20, a price-to-earnings ratio of 16.67 and a beta of 0.71. Western Asset Mortgage Capital has a 52-week low of $9.43 and a 52-week high of $10.95. The company has a debt-to-equity ratio of 7.34, a quick ratio of 128.12 and a current ratio of 128.12.

Western Asset Mortgage Capital (NYSE:WMC) last released its quarterly earnings data on Tuesday, November 7th. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $18.57 million for the quarter, compared to analysts’ expectations of $17.10 million. Western Asset Mortgage Capital had a net margin of 18.57% and a return on equity of 1.81%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. equities research analysts forecast that Western Asset Mortgage Capital will post 1.18 EPS for the current fiscal year.

Western Asset Mortgage Capital declared that its Board of Directors has approved a share repurchase plan on Thursday, December 21st that allows the company to buyback 2,100,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Western Asset Mortgage Capital news, insider Jennifer Murphy bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was bought at an average price of $10.22 per share, for a total transaction of $102,200.00. Following the completion of the acquisition, the insider now directly owns 47,500 shares in the company, valued at $485,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in WMC. Schwab Charles Investment Management Inc. raised its holdings in shares of Western Asset Mortgage Capital by 15.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 354,508 shares of the financial services provider’s stock valued at $3,652,000 after acquiring an additional 46,923 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Western Asset Mortgage Capital by 73.4% during the second quarter. BNP Paribas Arbitrage SA now owns 11,307 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 4,786 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Western Asset Mortgage Capital by 127.7% during the second quarter. Prudential Financial Inc. now owns 566,775 shares of the financial services provider’s stock valued at $5,838,000 after acquiring an additional 317,900 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Western Asset Mortgage Capital during the second quarter valued at approximately $150,000. Finally, LSV Asset Management raised its holdings in shares of Western Asset Mortgage Capital by 10.8% during the second quarter. LSV Asset Management now owns 208,400 shares of the financial services provider’s stock valued at $2,146,000 after acquiring an additional 20,375 shares in the last quarter. Institutional investors own 43.03% of the company’s stock.

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Western Asset Mortgage Capital Company Profile

Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.

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