Angel Oak Mortgage REIT (NYSE:AOMR) Earns Buy Rating from Analysts at Janney Montgomery Scott

Stock analysts at Janney Montgomery Scott initiated coverage on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Janney Montgomery Scott’s price target would suggest a potential upside of 40.09% from the company’s previous close.

Separately, Wells Fargo & Company lowered their target price on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Angel Oak Mortgage REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.20.

Angel Oak Mortgage REIT Price Performance

Angel Oak Mortgage REIT stock opened at $9.28 on Thursday. The stock has a market capitalization of $218.18 million, a P/E ratio of 3.16 and a beta of 1.46. Angel Oak Mortgage REIT has a 12-month low of $8.88 and a 12-month high of $13.31. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.76 and a quick ratio of 5.76. The firm’s 50-day moving average is $9.43 and its two-hundred day moving average is $10.67.

Insiders Place Their Bets

In related news, Director W D. Minami bought 5,000 shares of the stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $48,650.00. Following the completion of the purchase, the director now owns 45,259 shares in the company, valued at $440,370.07. This represents a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in Angel Oak Mortgage REIT by 3.4% during the 3rd quarter. State Street Corp now owns 333,989 shares of the company’s stock valued at $3,484,000 after purchasing an additional 10,909 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Angel Oak Mortgage REIT in the 3rd quarter worth approximately $1,515,000. Jacobs Asset Management LLC bought a new stake in shares of Angel Oak Mortgage REIT in the 3rd quarter valued at approximately $975,000. Wolverine Asset Management LLC bought a new position in Angel Oak Mortgage REIT during the third quarter worth $616,000. Finally, Ritholtz Wealth Management raised its stake in Angel Oak Mortgage REIT by 32.3% during the third 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 period. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

About Angel Oak Mortgage REIT

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.