Arlington Asset Investment (AI) Upgraded to “Strong-Buy” by Zacks Investment Research
Arlington Asset Investment (NYSE:AI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday. The firm presently has a $14.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 17.55% from the stock’s previous close.
According to Zacks, “Arlington Asset Investment Corp. is a principal investment firm that currently invests primarily in mortgage-related and other assets. “
Other equities analysts also recently issued research reports about the stock. FBR & Co reissued a “hold” rating and issued a $13.00 target price on shares of Arlington Asset Investment in a research note on Friday, October 27th. ValuEngine raised shares of Arlington Asset Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.81.
Arlington Asset Investment (NYSE:AI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.15. The company had revenue of $14.87 million for the quarter, compared to analyst estimates of $20.17 million. Arlington Asset Investment had a negative net margin of 27.20% and a negative return on equity of 8.36%. equities research analysts anticipate that Arlington Asset Investment will post 0.61 EPS for the current year.
In other news, CFO Richard Ernst Konzmann purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average price of $11.34 per share, with a total value of $45,360.00. Following the purchase, the chief financial officer now directly owns 11,457 shares of the company’s stock, valued at approximately $129,922.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Rock Tonkel, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $55,000.00. Following the purchase, the chief executive officer now directly owns 327,132 shares in the company, valued at $3,598,452. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,000 shares of company stock worth $158,660. Insiders own 5.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Arlington Asset Investment by 10.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 97,466 shares of the financial services provider’s stock worth $1,241,000 after buying an additional 9,410 shares during the period. Trexquant Investment LP purchased a new stake in Arlington Asset Investment during the 3rd quarter worth $377,000. SG Americas Securities LLC purchased a new stake in Arlington Asset Investment during the 3rd quarter worth $127,000. Aperio Group LLC increased its stake in Arlington Asset Investment by 21.3% during the 3rd quarter. Aperio Group LLC now owns 24,066 shares of the financial services provider’s stock worth $306,000 after buying an additional 4,228 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in Arlington Asset Investment during the 2nd quarter worth $970,000. 37.76% of the stock is currently owned by hedge funds and other institutional investors.
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Arlington Asset Investment Company Profile
Arlington Asset Investment Corp. is an investment company. The Company focuses on acquiring and holding a levered portfolio of residential mortgage-backed securities (MBS), consisting of agency MBS and private-label MBS. Agency MBS include residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by a United States Government agency or government-sponsored enterprise (GSE), such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
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