Stock Traders Purchase High Volume of Western Asset Mortgage Capital Call Options (NYSE:WMC)

Western Asset Mortgage Capital Corp (NYSE:WMC) was the target of unusually large options trading on Tuesday. Investors purchased 2,698 call options on the stock. This represents an increase of approximately 300% compared to the typical daily volume of 674 call options.

Several institutional investors and hedge funds have recently modified their holdings of WMC. Rhumbline Advisers lifted its position in Western Asset Mortgage Capital by 2.3% in the 4th quarter. Rhumbline Advisers now owns 78,778 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 1,745 shares in the last quarter. Swiss National Bank lifted its position in Western Asset Mortgage Capital by 2.8% in the 4th quarter. Swiss National Bank now owns 101,632 shares of the financial services provider’s stock valued at $1,050,000 after acquiring an additional 2,800 shares in the last quarter. State Street Corp lifted its position in Western Asset Mortgage Capital by 15.7% in the 4th quarter. State Street Corp now owns 1,462,804 shares of the financial services provider’s stock valued at $15,564,000 after acquiring an additional 198,564 shares in the last quarter. Victory Capital Management Inc. lifted its position in Western Asset Mortgage Capital by 257.5% in the 4th quarter. Victory Capital Management Inc. now owns 841,669 shares of the financial services provider’s stock valued at $8,694,000 after acquiring an additional 606,256 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Western Asset Mortgage Capital in the 4th quarter valued at approximately $50,000. 46.70% of the stock is currently owned by hedge funds and other institutional investors.

WMC has been the topic of several recent research reports. ValuEngine lowered Western Asset Mortgage Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd. Zacks Investment Research downgraded Western Asset Mortgage Capital from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Bank of America reduced their price target on Western Asset Mortgage Capital from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, May 21st.

Shares of WMC traded down $0.04 during mid-day trading on Tuesday, reaching $2.78. The company had a trading volume of 51,359 shares, compared to its average volume of 3,755,417. The company has a debt-to-equity ratio of 15.86, a quick ratio of 363.39 and a current ratio of 363.39. The firm has a 50-day moving average price of $2.52 and a 200 day moving average price of $6.44. Western Asset Mortgage Capital has a 52 week low of $1.37 and a 52 week high of $11.33. The company has a market capitalization of $150.12 million, a price-to-earnings ratio of -0.45 and a beta of 1.66.

Western Asset Mortgage Capital (NYSE:WMC) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.17. Western Asset Mortgage Capital had a positive return on equity of 13.11% and a negative net margin of 154.05%. The firm had revenue of $18.74 million for the quarter. As a group, research analysts forecast that Western Asset Mortgage Capital will post 0.75 earnings per share for the current fiscal year.

About Western Asset Mortgage Capital

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, securitized commercial loans, and other financial assets.

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