Freddie Mac (OTCMKTS:FMCC) Stock Falls 4.5% – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) shares fell 4.5% during mid-day trading on Monday. The company traded as low as $3.25 and last traded at $3.2740. 244,261 shares changed hands during trading, a decline of 91% from the average daily volume of 2,705,213 shares. The stock had previously closed at $3.43.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a research note on Monday, September 28th. Mizuho set a $4.00 price target on shares of Freddie Mac and gave the company a “neutral” rating in a report on Monday, October 12th. Finally, Wedbush began coverage on shares of Freddie Mac in a research note on Friday, July 31st. They issued an “outperform” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.88.

Freddie Mac Trading Up 7.6%

The company has a market cap of $2.20 billion, a P/E ratio of 338.34 and a beta of 1.74. The company has a 50-day simple moving average of $4.65 and a 200 day simple moving average of $5.60.

Freddie Mac Company Profile

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.