Angel Oak Mortgage (NYSE:AOMR) Trading Down 6.3%

Shares of Angel Oak Mortgage, Inc. (NYSE:AOMRGet Rating) dropped 6.3% on Tuesday . The stock traded as low as $13.98 and last traded at $14.00. Approximately 153,491 shares were traded 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.

Analyst Ratings Changes

AOMR has been the subject of several analyst reports. B. Riley cut their target price on shares of Angel Oak Mortgage from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. UBS Group downgraded shares of 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 shares of Angel Oak Mortgage from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th.

Angel Oak Mortgage Stock Performance

The stock has a market cap of $349.12 million, a price-to-earnings ratio of -3.97, a P/E/G ratio of 0.55 and a beta of 0.71. The stock’s 50-day moving average is $14.45 and its 200-day moving average is $14.73. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.59.

Angel Oak Mortgage (NYSE:AOMRGet Rating) last released its earnings results on Tuesday, August 9th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.45 by $0.45. The company had revenue of $29.70 million during the quarter, compared to analysts’ expectations 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, analysts expect that Angel Oak Mortgage, Inc. will post 3.13 EPS for the current year.

Angel Oak Mortgage Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in Angel Oak Mortgage by 17.3% during the 2nd quarter. American International Group Inc. now owns 5,583 shares of the company’s stock worth $72,000 after acquiring an additional 822 shares during the period. Raymond James & Associates grew its holdings in Angel Oak Mortgage by 9.3% in the 1st quarter. Raymond James & Associates now owns 12,460 shares of the company’s stock valued at $204,000 after buying an additional 1,060 shares during the last quarter. Strs Ohio grew its holdings in Angel Oak Mortgage by 64.7% in the 2nd quarter. Strs Ohio now owns 2,800 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the last quarter. UBS Group AG grew its holdings in shares of Angel Oak Mortgage by 2.5% during the 1st quarter. UBS Group AG now owns 85,125 shares of the company’s stock worth $1,397,000 after purchasing an additional 2,055 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Angel Oak Mortgage during the 4th quarter worth approximately $54,000. Institutional investors own 84.30% of the company’s stock.

About Angel Oak Mortgage

(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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