Western Asset Mortgage Capital (NYSE:WMC – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, 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. “

A number of other research firms have also issued reports on WMC. StockNews.com raised Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 20th. Bank of America reduced their price target on Western Asset Mortgage Capital from $3.00 to $2.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 9th.

WMC opened at $1.25 on Friday. The stock’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.84. Western Asset Mortgage Capital has a 12-month low of $1.10 and a 12-month high of $4.19. The company has a current ratio of 1,098.13, a quick ratio of 1,098.13 and a debt-to-equity ratio of 15.45. The firm has a market cap of $75.48 million, a price-to-earnings ratio of -0.92 and a beta of 1.95.

Western Asset Mortgage Capital (NYSE:WMC – Get Rating) last posted its earnings results on Thursday, May 5th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). Western Asset Mortgage Capital had a positive return on equity of 3.94% and a negative net margin of 53.54%. During the same period last year, the business posted $0.10 EPS. On average, research analysts forecast that Western Asset Mortgage Capital will post 0.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of Western Asset Mortgage Capital during the 4th quarter worth about $32,000. Squarepoint Ops LLC acquired a new stake in shares of Western Asset Mortgage Capital during the 3rd quarter worth about $33,000. Fortress Wealth Management Inc. acquired a new stake in shares of Western Asset Mortgage Capital during the 4th quarter worth about $39,000. O Shaughnessy Asset Management LLC raised its position in shares of Western Asset Mortgage Capital by 820.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,928 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 17,763 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Western Asset Mortgage Capital during the 4th quarter worth about $43,000. 22.99% of the stock is currently owned by institutional investors and hedge funds.

Western Asset Mortgage Capital Company Profile (Get Rating)

Western Asset Mortgage Capital Corporation operates as a real estate investment trust. It invests in, acquires, and manages a portfolio of assets with a focus on residential real estate related investments, including non-qualified mortgage loans, non-agency residential mortgage-backed securities (RMBS), and other related investments.

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