Angel Oak Mortgage (NYSE:AOMR) Stock Price Down 6.3%

Angel Oak Mortgage, Inc. (NYSE:AOMRGet Rating)’s stock price was down 6.3% during mid-day trading on Tuesday . The stock traded as low as $13.98 and last traded at $14.00. Approximately 153,491 shares changed hands during mid-day trading, an increase of 163% from the average daily volume of 58,297 shares. The stock had previously closed at $14.94.

Analysts Set New Price Targets

Several analysts have issued reports on AOMR shares. B. Riley dropped their price objective on Angel Oak Mortgage from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. UBS Group lowered Angel Oak Mortgage from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $19.50 to $14.50 in a research note on Wednesday, June 1st. Finally, Wells Fargo & Company dropped their price objective on Angel Oak Mortgage from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th.

Angel Oak Mortgage Stock Performance

The company has a market cap of $349.12 million, a P/E ratio of -3.97, a price-to-earnings-growth ratio of 0.55 and a beta of 0.71. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.59. The stock has a 50 day moving average price of $14.45 and a two-hundred day moving average price of $14.73.

Angel Oak Mortgage (NYSE:AOMRGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.45. The company had revenue of $29.70 million for the quarter, compared to analyst estimates of $30.20 million. Angel Oak Mortgage had a positive return on equity of 18.86% and a negative net margin of 90.64%. On average, research analysts predict that Angel Oak Mortgage, Inc. will post 3.13 earnings per share for the current fiscal year.

Angel Oak Mortgage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 12.86%. The ex-dividend date of this dividend was Friday, August 19th. Angel Oak Mortgage’s dividend payout ratio is currently -50.99%.

Institutional Investors Weigh In On Angel Oak Mortgage

A number of large investors have recently added to or reduced their stakes in AOMR. Advisor Group Holdings Inc. acquired a new stake in Angel Oak Mortgage during the fourth quarter worth approximately $54,000. Raymond James & Associates acquired a new stake in shares of Angel Oak Mortgage in the 4th quarter valued at $187,000. Masters Capital Management LLC boosted its holdings in shares of Angel Oak Mortgage by 20.0% in the 4th quarter. Masters Capital Management LLC now owns 600,000 shares of the company’s stock valued at $9,828,000 after purchasing an additional 100,000 shares in the last quarter. Centiva Capital LP boosted its holdings in shares of Angel Oak Mortgage by 44.8% in the 4th quarter. Centiva Capital LP now owns 443,232 shares of the company’s stock valued at $7,260,000 after purchasing an additional 137,087 shares in the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new stake in shares of Angel Oak Mortgage in the 1st quarter valued at $2,462,000. Institutional investors and hedge funds own 84.30% of the company’s stock.

Angel Oak Mortgage Company Profile

(Get Rating)

Angel Oak Mortgage, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

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