Revenue Update on Western Asset Mortgage Capital Corp(NYSE:WMC)

Western Asset Mortgage Capital Corp(NYSE:WMC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $21.49M. Analysts estimated a revenue of $33.92M. Earnings per share were $0.30.

In a different note, On Jun 29, 2016, Bank of America said it Downgrades its rating on Western Asset Mortgage Capital Corp. The shares have been rated ‘Neutral’ by the firm. On Jun 27, 2016, Wunderlich said it Upgrades its rating on Western Asset Mortgage Capital Corp. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Hold’ by the firm. On May 10, 2016, Wunderlich said it Downgrades its rating on Western Asset Mortgage Capital Corp. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Sell’ by the firm.

Western Asset Mortgage Capital Corp (WMC) made into the market gainers list on Fridays trading session with the shares advancing 0.46% or 0.05 points. Due to strong positive momentum, the stock ended at $11, which is also near the day’s high of $11.03. The stock began the session at $10.96 and the volume stood at 3,69,938 shares. The 52-week high of the shares is $13.6 and the 52 week low is $8.04. The company has a current market capitalization of $461 M and it has 4,19,19,801 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Apr 13, 2016, Gavin L James (CEO) purchased 730 shares at $15.21 per share price.Also, On Dec 28, 2015, Elliott Neumayer (COO) purchased 200 shares at $10.84 per share price.

Western Asset Mortgage Capital Corporation is a specialty financial real estate investment trust (REIT) managing a diversified mortgage-market investment portfolio including undervalued assets. The Company’s is primarily focused on investing in financing and managing Agency residential mortgage-backed securities (RMBS) (including To-Be-Announced securities (TBAs)) Non-Agency RMBS and Agency and Non-Agency commercial mortgage-backed securities (CMBS). In addition the Company also invests in other securities including certain Agency obligations that are not technically mortgage-backed securities (MBS) as well as certain Non United States CMBS and asset-backed securities (ABS) investments secured by a portfolio private student loans and interests in residential whole-loans. The Company is externally managed and advised by Western Asset Management Company (the Manager).

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