B.Riley FBR Sticks to Their Buy Rating for Cherry Hill Mortgage (CHMI)


In a report released today, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Cherry Hill Mortgage (CHMI), with a price target of $9.00. The company’s shares closed last Tuesday at $6.83.

According to TipRanks.com, Hayes has 0 stars on 0-5 stars ranking scale with an average return of -16.7% and a 38.7% success rate. Hayes covers the Financial sector, focusing on stocks such as Broadmark Realty Capital, Ellington Financial, and Saratoga Investment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cherry Hill Mortgage with a $11.21 average price target, representing a 62.2% upside. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $9.00 price target.

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Based on Cherry Hill Mortgage’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.26 million and net profit of $7.62 million. In comparison, last year the company had a GAAP net loss of $38.31 million.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CHMI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cherry Hill Mortgage Investment Corp. is a real estate finance company, which acquires, invests in and manages a portfolio of excess mortgage servicing rights. The company operates through the following segments: Investments in RMBS, Investments in Servicing Related Assets and All Other segment. It also invests in agency residential mortgage backed securities, prime jumbo mortgage loans and other residential mortgage assets. The company was founded on October 31, 2012 and is headquartered in Farmingdale, NJ.

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