Freddie Mac (OTCMKTS:FMCC) Stock Price Up 13.5% – Here’s What Happened

Shares of Freddie Mac (OTCMKTS:FMCC) were up 13.5% on Thursday. The company traded as high as $4.13 and last traded at $4.13. 2,061,268 shares traded hands during trading, a decline of 26% from the average session volume of 2,777,854 shares. The stock had previously closed at $3.64.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FMCC shares. Mizuho set a $4.00 price target on shares of Freddie Mac and gave the stock a “neutral” rating in a research report on Monday, October 12th. Keefe, Bruyette & Woods dropped their price objective on shares of Freddie Mac from $6.50 to $3.50 and set an “underperform” rating on the stock in a research note on Monday, September 28th. Finally, Wedbush assumed coverage on shares of Freddie Mac in a research note on Thursday, October 22nd. They set an “outperform” rating and a $6.00 target price for the company. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.38.

Freddie Mac Price Performance

The company has a market cap of $2.72 billion, a price-to-earnings ratio of 419.42 and a beta of 1.74. The business has a 50 day simple moving average of $4.44 and a 200 day simple moving average of $5.86.

Freddie Mac (OTCMKTS:FMCC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.01 EPS for the quarter. Freddie Mac had a negative return on equity of 90.29% and a net margin of 9.58%.

About Freddie Mac

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise focused on supporting liquidity, stability and affordability in the U.S. housing market. It operates primarily in the secondary mortgage market rather than making most home loans directly to consumers.

The company purchases residential mortgage loans from approved lenders, providing those institutions with funds to make additional loans. Freddie Mac also pools eligible mortgages into securities that it guarantees and sells to investors.