Orchid Island Capital (NYSE:ORC) Lowered to Sell at Zacks Investment Research

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Orchid Island Capital (NYSE:ORC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Orchid Island Capital, Inc. is a specialty finance company that invests in residential mortgage-backed securities the principal and interest payments of which are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity. The Company intends to qualify and will elect to be taxed as a REIT commencing with its taxable year ending December 31, 2013. Orchid Island Capital, Inc. is based in United States. “

Separately, ValuEngine lowered shares of Orchid Island Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st.

ORC opened at $5.66 on Tuesday. Orchid Island Capital has a fifty-two week low of $5.04 and a fifty-two week high of $7.55. The firm has a market capitalization of $316.12 million, a PE ratio of 4.10 and a beta of 0.48. The company’s 50-day moving average is $5.85 and its 200 day moving average is $6.38.

Large investors have recently bought and sold shares of the business. NEXT Financial Group Inc purchased a new stake in Orchid Island Capital in the 2nd quarter valued at about $34,000. Bank of Montreal Can increased its stake in Orchid Island Capital by 332.6% in the 2nd quarter. Bank of Montreal Can now owns 5,645 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 4,340 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Orchid Island Capital by 388.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,134 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 8,059 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Orchid Island Capital in the 2nd quarter valued at about $65,000. Finally, Jane Street Group LLC purchased a new stake in Orchid Island Capital in the 2nd quarter valued at about $147,000. Hedge funds and other institutional investors own 34.74% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.

See Also: Growth Stocks

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