Wells Fargo & Company Cuts Angel Oak Mortgage REIT (NYSE:AOMR) Price Target to $12.00

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective cut by equities researchers at Wells Fargo & Company from $13.00 to $12.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 24.87% from the company’s previous close.

Separately, BTIG Research began coverage on shares of Angel Oak Mortgage REIT in a research report on Wednesday, July 31st. They issued a “buy” rating and a $13.50 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.00.

Angel Oak Mortgage REIT Price Performance

Shares of Angel Oak Mortgage REIT stock traded up $0.06 during midday trading on Thursday, hitting $9.61. 12,804 shares of the company were exchanged, compared to its average volume of 85,499. The firm has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $11.31. The company has a debt-to-equity ratio of 5.36, a current ratio of 16.23 and a quick ratio of 16.23. The firm has a market cap of $224.13 million, a P/E ratio of 4.85 and a beta of 1.43. Angel Oak Mortgage REIT has a 52 week low of $8.88 and a 52 week high of $13.31.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.23). The firm had revenue of $25.90 million during the quarter, compared to analyst estimates of $25.50 million. Angel Oak Mortgage REIT had a net margin of 49.69% and a negative return on equity of 6.67%. Research analysts forecast that Angel Oak Mortgage REIT will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jonathan Morgan sold 4,377 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.17, for a total transaction of $53,268.09. Following the sale, the director now directly owns 33,059 shares of the company’s stock, valued at $402,328.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brandon Filson sold 22,894 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.02, for a total value of $252,291.88. Following the completion of the transaction, the chief financial officer now directly owns 75,818 shares in the company, valued at approximately $835,514.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Morgan sold 4,377 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $12.17, for a total value of $53,268.09. Following the sale, the director now directly owns 33,059 shares of the company’s stock, valued at approximately $402,328.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,571 shares of company stock valued at $403,502 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AOMR. Gladius Capital Management LP bought a new position in shares of Angel Oak Mortgage REIT during the second quarter worth about $35,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Angel Oak Mortgage REIT in the third quarter valued at approximately $40,000. Renaissance Technologies LLC raised its holdings in shares of Angel Oak Mortgage REIT by 21.2% in the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock valued at $330,000 after purchasing an additional 4,400 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Angel Oak Mortgage REIT by 35.0% in the second quarter. Ritholtz Wealth Management now owns 39,212 shares of the company’s stock worth $514,000 after purchasing an additional 10,171 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Angel Oak Mortgage REIT by 1.4% during the first quarter. Vanguard Group Inc. now owns 864,368 shares of the company’s stock worth $9,283,000 after purchasing an additional 12,208 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, 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. It offers investment securities; residential mortgage loans; and commercial mortgage loans.