Two Harbors Investments (NYSE:TWO) Cut to “Strong Sell” at Zacks Research

Two Harbors Investments (NYSE:TWO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Two Harbors Investments from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Wall Street Zen raised shares of Two Harbors Investments from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. UBS Group downgraded shares of Two Harbors Investments from a “buy” rating to a “neutral” rating and upped their price target for the company from $11.00 to $14.00 in a report on Friday, January 23rd. Maxim Group cut shares of Two Harbors Investments from a “buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Two Harbors Investments in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Two Harbors Investments has an average rating of “Reduce” and a consensus price target of $12.46.

Two Harbors Investments Price Performance

Two Harbors Investments stock opened at $13.71 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09. Two Harbors Investments has a one year low of $9.30 and a one year high of $14.28. The company has a market cap of $1.43 billion, a P/E ratio of -5.48 and a beta of 1.19. The business has a fifty day moving average of $11.20 and a two-hundred day moving average of $10.35.

Insider Transactions at Two Harbors Investments

In other Two Harbors Investments news, CIO Nicholas Letica sold 55,488 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $11.42, for a total transaction of $633,672.96. Following the completion of the sale, the executive directly owned 166,507 shares in the company, valued at $1,901,509.94. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William Dellal sold 7,087 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $11.44, for a total transaction of $81,075.28. Following the sale, the chief financial officer directly owned 36,703 shares of the company’s stock, valued at approximately $419,882.32. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 129,389 shares of company stock valued at $1,483,046 in the last quarter. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Two Harbors Investments

A number of institutional investors and hedge funds have recently bought and sold shares of TWO. Balyasny Asset Management L.P. raised its stake in shares of Two Harbors Investments by 490.7% during the second quarter. Balyasny Asset Management L.P. now owns 3,583,939 shares of the real estate investment trust’s stock valued at $38,599,000 after purchasing an additional 2,977,196 shares during the period. Algebris UK Ltd. purchased a new stake in Two Harbors Investments during the 3rd quarter worth $17,558,000. Millennium Management LLC lifted its holdings in Two Harbors Investments by 45.3% in the 3rd quarter. Millennium Management LLC now owns 4,535,534 shares of the real estate investment trust’s stock worth $44,766,000 after buying an additional 1,415,062 shares in the last quarter. Invesco Ltd. boosted its position in Two Harbors Investments by 44.5% in the 2nd quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust’s stock valued at $28,540,000 after buying an additional 815,931 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Two Harbors Investments during the third quarter valued at about $5,325,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Two Harbors Investments Company Profile

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.