Chimera Investment (NYSE:CIM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Chimera Investment Corporation (NYSE:CIM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.99 and traded as high as $13.38. Chimera Investment shares last traded at $13.2850, with a volume of 424,824 shares traded.

Wall Street Analysts Forecast Growth

CIM has been the topic of a number of recent analyst reports. Wall Street Zen raised Chimera Investment from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.50.

Chimera Investment Stock Up 0.2%

The firm has a 50-day moving average price of $13.22 and a 200 day moving average price of $12.99. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -16.61 and a beta of 1.71.

Chimera Investment (NYSE:CIM) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The company had revenue of $32.37 million for the quarter, compared to the consensus estimate of $102.35 million.

Hedge Funds Weigh In On Chimera Investment

Several institutional investors and hedge funds have recently made changes to their positions in CIM. VSM Wealth Advisory LLC grew its position in shares of Chimera Investment by 64.3% in the third quarter. VSM Wealth Advisory LLC now owns 2,391 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 936 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Chimera Investment by 864.7% in the fourth quarter. GAMMA Investing LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 2,862 shares during the last quarter. IFP Advisors Inc grew its position in shares of Chimera Investment by 1,211.4% in the fourth quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 5,742 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 3,423 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Chimera Investment in the fourth quarter valued at approximately $105,000. Institutional investors and hedge funds own 48.44% of the company’s stock.

About Chimera Investment

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.