Chimera Investment (NYSE:CIM) Upgraded by StockNews.com to Buy

Chimera Investment (NYSE:CIM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 price objective on shares of Chimera Investment in a research note on Wednesday, July 10th.

Chimera Investment Stock Performance

Chimera Investment stock traded up $0.96 during midday trading on Wednesday, hitting $14.61. 943,095 shares of the company were exchanged, compared to its average volume of 652,774. The company has a debt-to-equity ratio of 3.70, a quick ratio of 5.46 and a current ratio of 5.46. Chimera Investment has a fifty-two week low of $11.28 and a fifty-two week high of $18.78. The business has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $13.52. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.55 and a beta of 1.72.

Insider Buying and Selling at Chimera Investment

In other news, Director Gerard Creagh acquired 10,000 shares of Chimera Investment stock in a transaction on Monday, June 17th. The stock was bought at an average cost of $13.07 per share, with a total value of $130,700.00. Following the completion of the purchase, the director now owns 125,899 shares of the company’s stock, valued at $1,645,499.93. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.91% of the stock is owned by insiders.

Institutional Investors Weigh In On Chimera Investment

Several large investors have recently made changes to their positions in CIM. Arkadios Wealth Advisors lifted its holdings in Chimera Investment by 121.7% during the second quarter. Arkadios Wealth Advisors now owns 30,028 shares of the real estate investment trust’s stock worth $384,000 after acquiring an additional 16,482 shares in the last quarter. Harbour Investments Inc. acquired a new position in shares of Chimera Investment in the second quarter valued at approximately $796,000. AlphaCentric Advisors LLC bought a new stake in shares of Chimera Investment in the second quarter valued at approximately $179,000. Cetera Advisors LLC bought a new stake in Chimera Investment during the first quarter worth $63,000. Finally, Bayesian Capital Management LP bought a new position in shares of Chimera Investment in the 1st quarter valued at $116,000. Institutional investors own 48.44% of the company’s stock.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.