Western Asset Mortgage Capital (NYSE:WMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Western Asset Mortgage Capital Corporation is focused on investing in, financing and managing primarily residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or federally chartered corporation. Western Asset Mortgage Capital Corporation is headquartered in Pasadena, California. “

Separately, Keefe, Bruyette & Woods started coverage on shares of Western Asset Mortgage Capital in a report on Sunday, March 17th. They set a “market perform” rating and a $10.50 price objective on the stock.

NYSE WMC traded up $0.05 during mid-day trading on Thursday, reaching $10.03. 12,640 shares of the stock were exchanged, compared to its average volume of 451,243. The company has a debt-to-equity ratio of 7.51, a quick ratio of 700.59 and a current ratio of 700.59. The company has a market capitalization of $529.58 million, a PE ratio of 7.38 and a beta of 0.74. Western Asset Mortgage Capital has a 1 year low of $8.26 and a 1 year high of $11.38.

Western Asset Mortgage Capital (NYSE:WMC) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $15.63 million for the quarter, compared to the consensus estimate of $20.90 million. Western Asset Mortgage Capital had a net margin of 13.99% and a return on equity of 11.99%. The company’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. On average, equities analysts expect that Western Asset Mortgage Capital will post 1.28 EPS for the current year.

In related news, insider Dennis Joseph Mcnamara acquired 3,446 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $10.34 per share, with a total value of $35,631.64. Following the completion of the acquisition, the insider now directly owns 5,204 shares in the company, valued at approximately $53,809.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer Murphy acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the acquisition, the director now owns 85,000 shares of the company’s stock, valued at $848,300. The disclosure for this purchase can be found here. Company insiders own 0.51% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Western Asset Mortgage Capital by 2.2% in the first quarter. BlackRock Inc. now owns 4,915,239 shares of the financial services provider’s stock valued at $50,284,000 after buying an additional 104,077 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Western Asset Mortgage Capital by 14.6% in the first quarter. Renaissance Technologies LLC now owns 3,092,710 shares of the financial services provider’s stock valued at $31,638,000 after buying an additional 393,610 shares during the last quarter. Vanguard Group Inc raised its position in shares of Western Asset Mortgage Capital by 14.1% in the third quarter. Vanguard Group Inc now owns 2,080,151 shares of the financial services provider’s stock valued at $20,843,000 after buying an additional 257,111 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Western Asset Mortgage Capital by 14.1% in the third quarter. Vanguard Group Inc. now owns 2,080,151 shares of the financial services provider’s stock valued at $20,843,000 after buying an additional 257,111 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Western Asset Mortgage Capital by 11.7% in the fourth quarter. Prudential Financial Inc. now owns 1,524,618 shares of the financial services provider’s stock valued at $12,715,000 after buying an additional 159,457 shares during the last quarter. Institutional investors and hedge funds own 48.65% of the company’s stock.

About Western Asset Mortgage Capital

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, securitized commercial loans, and other financial assets.

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