Chimera Investment (NYSE:CIM) Raised to “Buy” at StockNews.com

Chimera Investment (NYSE:CIM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

CIM has been the subject of a number of other research reports. Royal Bank of Canada raised shares of Chimera Investment to a “moderate buy” rating in a research report on Friday, March 14th. JMP Securities reiterated a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Finally, UBS Group raised Chimera Investment from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.50 to $15.00 in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Chimera Investment currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Chimera Investment Price Performance

Shares of CIM opened at $14.04 on Thursday. Chimera Investment has a 52 week low of $9.85 and a 52 week high of $16.89. The company has a current ratio of 0.06, a quick ratio of 3.03 and a debt-to-equity ratio of 2.82. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 13.00 and a beta of 1.76. The stock has a 50 day moving average of $12.37 and a 200-day moving average of $13.75.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. The firm had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $72.07 million. As a group, analysts forecast that Chimera Investment will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other Chimera Investment news, Director Gerard Creagh purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $13.31 per share, with a total value of $166,375.00. Following the completion of the acquisition, the director now owns 138,127 shares in the company, valued at approximately $1,838,470.37. This represents a 9.95% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Chimera Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIM. Barclays PLC boosted its position in Chimera Investment by 301.6% during the 3rd quarter. Barclays PLC now owns 183,295 shares of the real estate investment trust’s stock worth $2,901,000 after acquiring an additional 137,655 shares during the period. Prudential Financial Inc. lifted its holdings in Chimera Investment by 79.0% in the fourth quarter. Prudential Financial Inc. now owns 56,659 shares of the real estate investment trust’s stock worth $793,000 after purchasing an additional 25,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in Chimera Investment by 84.7% in the fourth quarter. JPMorgan Chase & Co. now owns 309,935 shares of the real estate investment trust’s stock worth $4,339,000 after purchasing an additional 142,105 shares during the period. Manning & Napier Advisors LLC grew its position in Chimera Investment by 66.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 100,000 shares of the real estate investment trust’s stock valued at $1,400,000 after buying an additional 40,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Chimera Investment during the 4th quarter valued at about $468,000. 48.44% of the stock is owned by institutional investors.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.