Federal Agricultural Mortgage Corp. (NYSE:AGM) Sees Large Growth in Short Interest
Federal Agricultural Mortgage Corp. (NYSE:AGM) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 139,400 shares, an increase of 28.2% from the December 15th total of 108,700 shares. Based on an average daily volume of 42,500 shares, the short-interest ratio is presently 3.3 days. Currently, 1.6% of the company’s shares are short sold.
Shares of AGM stock traded down $0.14 on Tuesday, hitting $82.08. 1,600 shares of the company’s stock traded hands, compared to its average volume of 43,252. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.39 and a current ratio of 0.39. Federal Agricultural Mortgage has a one year low of $66.74 and a one year high of $88.46. The company’s fifty day simple moving average is $83.24 and its 200 day simple moving average is $80.78. The stock has a market capitalization of $880.58 million, a price-to-earnings ratio of 9.86 and a beta of 1.17.
Federal Agricultural Mortgage (NYSE:AGM) last released its earnings results on Wednesday, November 6th. The credit services provider reported $2.17 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.03). Federal Agricultural Mortgage had a return on equity of 20.69% and a net margin of 16.64%. The company had revenue of $36.68 million during the quarter.
Separately, ValuEngine raised shares of Federal Agricultural Mortgage from a “sell” rating to a “hold” rating in a report on Thursday, October 10th.
Several hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its position in Federal Agricultural Mortgage by 220.5% during the 2nd quarter. Bank of Montreal Can now owns 1,109 shares of the credit services provider’s stock worth $80,000 after buying an additional 763 shares during the last quarter. State of Tennessee Treasury Department purchased a new stake in Federal Agricultural Mortgage in the third quarter valued at approximately $177,000. Alpine Woods Capital Investors LLC purchased a new stake in Federal Agricultural Mortgage in the third quarter valued at approximately $245,000. GW&K Investment Management LLC lifted its stake in Federal Agricultural Mortgage by 14.1% in the third quarter. GW&K Investment Management LLC now owns 4,260 shares of the credit services provider’s stock valued at $348,000 after buying an additional 525 shares during the last quarter. Finally, James Investment Research Inc. lifted its stake in Federal Agricultural Mortgage by 6.3% in the third quarter. James Investment Research Inc. now owns 8,720 shares of the credit services provider’s stock valued at $712,000 after buying an additional 515 shares during the last quarter. 62.47% of the stock is owned by institutional investors and hedge funds.
Federal Agricultural Mortgage Company Profile
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA Guarantees, Rural Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments (LTSPC) on designated eligible mortgage loans.
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