Janney Montgomery Scott Initiates Coverage on Angel Oak Mortgage REIT (NYSE:AOMR)

Equities research analysts at Janney Montgomery Scott initiated coverage on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a research note issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Janney Montgomery Scott’s target price points to a potential upside of 36.41% from the stock’s previous close.

Separately, Wells Fargo & Company decreased their target price on Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Angel Oak Mortgage REIT Price Performance

Shares of AOMR stock opened at $9.53 on Thursday. The stock has a 50 day moving average price of $9.43 and a 200 day moving average price of $10.64. Angel Oak Mortgage REIT has a 52-week low of $8.88 and a 52-week high of $13.31. The company has a debt-to-equity ratio of 5.29, a quick ratio of 5.76 and a current ratio of 5.76. The firm has a market capitalization of $224.06 million, a P/E ratio of 3.24 and a beta of 1.46.

Insider Buying and Selling

In other Angel Oak Mortgage REIT news, Director W D. Minami purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $9.73 per share, for a total transaction of $48,650.00. Following the completion of the purchase, the director now owns 45,259 shares in the company, valued at $440,370.07. This represents a 12.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of large investors have recently modified their holdings of AOMR. State Street Corp raised its position in shares of Angel Oak Mortgage REIT by 3.4% in the 3rd quarter. State Street Corp now owns 333,989 shares of the company’s stock valued at $3,484,000 after purchasing an additional 10,909 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Angel Oak Mortgage REIT in the third quarter worth $1,515,000. Jacobs Asset Management LLC acquired a new stake in shares of Angel Oak Mortgage REIT during the third quarter worth $975,000. Wolverine Asset Management LLC purchased a new stake in shares of Angel Oak Mortgage REIT during the third quarter valued at $616,000. Finally, Ritholtz Wealth Management increased its position in shares of Angel Oak Mortgage REIT by 32.3% in the 3rd quarter. Ritholtz Wealth Management now owns 51,862 shares of the company’s stock valued at $541,000 after acquiring an additional 12,650 shares during the period. Hedge funds and other 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.