Orchid Island Capital Inc (ORC) Director Purchases $19,461.60 in Stock
Orchid Island Capital Inc (NYSE:ORC) Director W Coleman Bitting acquired 1,802 shares of the business’s stock in a transaction on Monday, November 28th. The stock was acquired at an average cost of $10.80 per share, for a total transaction of $19,461.60. Following the transaction, the director now directly owns 14,403 shares in the company, valued at $155,552.40. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Orchid Island Capital Inc (NYSE:ORC) traded down 0.46% during trading on Wednesday, hitting $10.71. The stock had a trading volume of 70,951 shares. The company has a market cap of $281.16 million, a P/E ratio of 7.96 and a beta of 0.62. Orchid Island Capital Inc has a one year low of $7.50 and a one year high of $11.25. The firm has a 50 day moving average of $10.68 and a 200-day moving average of $10.59.
Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.85 earnings per share (EPS) for the quarter. Equities analysts anticipate that Orchid Island Capital Inc will post $0.13 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 30th will be paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 15.61%. The ex-dividend date is Monday, November 28th. Orchid Island Capital’s dividend payout ratio is presently 130.23%.
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Several hedge funds have recently modified their holdings of ORC. BlackRock Fund Advisors raised its stake in shares of Orchid Island Capital by 17.6% in the third quarter. BlackRock Fund Advisors now owns 1,195,208 shares of the company’s stock worth $12,454,000 after buying an additional 179,137 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Orchid Island Capital by 25.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 733,987 shares of the company’s stock worth $7,648,000 after buying an additional 149,535 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Orchid Island Capital by 170.7% in the third quarter. D. E. Shaw & Co. Inc. now owns 97,850 shares of the company’s stock worth $1,020,000 after buying an additional 61,708 shares during the last quarter. Menta Capital LLC increased its position in shares of Orchid Island Capital by 104.1% in the second quarter. Menta Capital LLC now owns 55,348 shares of the company’s stock worth $570,000 after buying an additional 28,228 shares during the last quarter. Finally, Commonwealth Equity Services Inc bought a new position in shares of Orchid Island Capital during the second quarter worth approximately $285,000. 21.42% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised Orchid Island Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th.
Orchid Island Capital Company Profile
Orchid Island Capital, Inc (Orchid) is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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