Western Asset Mortgage Capital (WMC) Upgraded at ValuEngine

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Western Asset Mortgage Capital (NYSE:WMC) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Shares of NYSE:WMC opened at $9.66 on Thursday. The company has a quick ratio of 832.49, a current ratio of 832.49 and a debt-to-equity ratio of 9.98. Western Asset Mortgage Capital has a one year low of $8.54 and a one year high of $11.38. The firm has a market capitalization of $417.00 million, a price-to-earnings ratio of 8.40 and a beta of 0.46.

Western Asset Mortgage Capital (NYSE:WMC) last announced its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Western Asset Mortgage Capital had a net margin of 37.46% and a return on equity of 11.92%. The firm had revenue of $19.02 million during the quarter, compared to the consensus estimate of $19.90 million. During the same period last year, the firm earned $0.32 EPS.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Western Asset Mortgage Capital by 4.6% in the 2nd quarter. BlackRock Inc. now owns 3,926,401 shares of the financial services provider’s stock valued at $40,913,000 after purchasing an additional 174,385 shares during the period. Renaissance Technologies LLC boosted its holdings in Western Asset Mortgage Capital by 54.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,358,100 shares of the financial services provider’s stock valued at $14,151,000 after purchasing an additional 478,400 shares during the period. Northern Trust Corp boosted its holdings in Western Asset Mortgage Capital by 1.7% in the 1st quarter. Northern Trust Corp now owns 487,845 shares of the financial services provider’s stock valued at $4,728,000 after purchasing an additional 8,100 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Western Asset Mortgage Capital by 5.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 416,532 shares of the financial services provider’s stock valued at $4,037,000 after purchasing an additional 20,756 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Western Asset Mortgage Capital by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 213,530 shares of the financial services provider’s stock valued at $2,225,000 after purchasing an additional 7,566 shares during the period. 43.25% of the stock is owned by hedge funds and other institutional investors.

Western Asset Mortgage Capital Company Profile

Western Asset Mortgage Capital Corporation operates as a real estate investment trust in the United States. It focuses on investing in, financing, and managing a portfolio of agency and non-agency residential mortgage-backed securities and commercial mortgage-backed securities, residential whole-loans, residential bridge loans, and other financial assets.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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