Wells Fargo & Company Has Lowered Expectations for Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective reduced by stock analysts at Wells Fargo & Company from $13.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.45% from the stock’s current price.

Separately, BTIG Research assumed coverage on Angel Oak Mortgage REIT in a report on Wednesday, July 31st. They issued a “buy” rating and a $13.50 target price on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Angel Oak Mortgage REIT presently has an average rating of “Hold” and a consensus target price of $12.00.

Angel Oak Mortgage REIT Price Performance

Shares of NYSE:AOMR opened at $9.80 on Thursday. The company has a debt-to-equity ratio of 5.36, a quick ratio of 16.23 and a current ratio of 16.23. Angel Oak Mortgage REIT has a 52 week low of $8.88 and a 52 week high of $13.31. The firm has a market cap of $228.54 million, a PE ratio of 4.82 and a beta of 1.43. The firm’s fifty day moving average is $10.08 and its 200-day moving average is $11.30.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.23). The company had revenue of $25.90 million for the quarter, compared to analyst estimates of $25.50 million. Angel Oak Mortgage REIT had a negative return on equity of 6.67% and a net margin of 49.69%. Sell-side analysts predict that Angel Oak Mortgage REIT will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 22,894 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.02, for a total transaction of $252,291.88. Following the transaction, the chief financial officer now directly owns 75,818 shares in the company, valued at approximately $835,514.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 22,894 shares of Angel Oak Mortgage REIT stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $11.02, for a total value of $252,291.88. Following the completion of the sale, the chief financial officer now directly owns 75,818 shares of the company’s stock, valued at approximately $835,514.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Morgan sold 5,623 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $11.99, for a total transaction of $67,419.77. Following the transaction, the director now directly owns 37,436 shares in the company, valued at $448,857.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,571 shares of company stock valued at $403,502 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of large investors have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in Angel Oak Mortgage REIT during the third quarter worth $616,000. O Shaughnessy Asset Management LLC increased its position in shares of Angel Oak Mortgage REIT by 332.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 57,573 shares of the company’s stock worth $618,000 after acquiring an additional 44,256 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Angel Oak Mortgage REIT by 32.3% in the 3rd quarter. Ritholtz Wealth Management now owns 51,862 shares of the company’s stock worth $541,000 after acquiring an additional 12,650 shares during the last quarter. Vanguard Group Inc. lifted its position in Angel Oak Mortgage REIT by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 864,368 shares of the company’s stock valued at $9,283,000 after acquiring an additional 12,208 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Angel Oak Mortgage REIT by 21.2% during the 2nd quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock valued at $330,000 after purchasing an additional 4,400 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, 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. It offers investment securities; residential mortgage loans; and commercial mortgage loans.