Orchid Island Capital, Inc. (NYSE:ORC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Orchid Island Capital (NYSE:ORC) traded down 1.47% during trading on Friday, hitting $9.41. 1,422,466 shares of the stock were exchanged. Orchid Island Capital has a 52 week low of $9.23 and a 52 week high of $12.60. The firm’s 50-day moving average is $9.97 and its 200 day moving average is $10.47. The firm has a market cap of $328.19 million, a PE ratio of 28.09 and a beta of 0.51.
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In other news, Director W Coleman Bitting purchased 2,912 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $29,411.20. Following the completion of the acquisition, the director now owns 18,650 shares in the company, valued at $188,365. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORC. Vanguard Group Inc. boosted its position in Orchid Island Capital by 25.4% in the first quarter. Vanguard Group Inc. now owns 1,134,132 shares of the real estate investment trust’s stock valued at $11,330,000 after buying an additional 229,968 shares during the period. State Street Corp boosted its position in Orchid Island Capital by 12.4% in the fourth quarter. State Street Corp now owns 467,303 shares of the real estate investment trust’s stock valued at $5,058,000 after buying an additional 51,674 shares during the period. Thrivent Financial For Lutherans purchased a new position in Orchid Island Capital during the first quarter valued at $2,753,000. Geode Capital Management LLC boosted its position in Orchid Island Capital by 71.7% in the first quarter. Geode Capital Management LLC now owns 240,370 shares of the real estate investment trust’s stock valued at $2,401,000 after buying an additional 100,374 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Orchid Island Capital by 22.7% in the first quarter. Bank of New York Mellon Corp now owns 116,598 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 21,558 shares during the period. Institutional investors and hedge funds own 20.53% of the company’s stock.
About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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