Western Asset Mortgage Capital Corporation (WMC) Sees Large Volume Increase

Shares of Western Asset Mortgage Capital Corporation (NYSE:WMC) saw strong trading volume on Friday . 837,787 shares traded hands during mid-day trading, an increase of 255% from the previous session’s volume of 236,092 shares.The stock last traded at $10.46 and had previously closed at $10.36.

Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 17th. JMP Securities assumed coverage on shares of Western Asset Mortgage Capital Corporation in a report on Tuesday, July 25th. They issued a “market perform” rating on the stock. Finally, BidaskClub cut shares of Western Asset Mortgage Capital Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $11.00.

The company has a 50-day moving average of $10.48 and a 200 day moving average of $10.25. The firm has a market cap of $438.47 million, a P/E ratio of 12.74 and a beta of 0.71.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Western Asset Mortgage Capital Corporation by 4.1% in the first quarter. Geode Capital Management LLC now owns 326,792 shares of the financial services provider’s stock valued at $3,192,000 after purchasing an additional 12,722 shares during the period. Bank of New York Mellon Corp raised its position in shares of Western Asset Mortgage Capital Corporation by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 204,291 shares of the financial services provider’s stock valued at $1,996,000 after purchasing an additional 13,287 shares during the period. Hancock Holding Co. raised its position in shares of Western Asset Mortgage Capital Corporation by 16.7% in the first quarter. Hancock Holding Co. now owns 70,000 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 10,000 shares during the period. Prudential Financial Inc. raised its position in shares of Western Asset Mortgage Capital Corporation by 40.4% in the first quarter. Prudential Financial Inc. now owns 248,875 shares of the financial services provider’s stock valued at $2,432,000 after purchasing an additional 71,600 shares during the period. Finally, Credit Suisse AG raised its position in shares of Western Asset Mortgage Capital Corporation by 3.8% in the first quarter. Credit Suisse AG now owns 98,631 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 3,632 shares during the period. 40.24% of the stock is currently owned by institutional investors.

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About Western Asset Mortgage Capital Corporation

Western Asset Mortgage Capital Corporation is a real estate investment trust. The Company is focused on investing in, financing and managing a diversified portfolio of real estate-related securities, whole-loans and other financial assets. The Company’s portfolio includes Agency residential mortgage-backed securities (RMBS), including Mortgage pass-through certificates, Agency derivatives, Agency Interest-Only Strips and Agency collateralized mortgage obligations (CMOs); Non-Agency RMBS, and Agency commercial mortgage-backed securities (CMBS), Non-Agency CMBS, Non United States CMBS and asset-backed securities (ABS), as well as Residential and Commercial Whole-Loans.

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