Arlington Asset Investment Corp. (NYSE:AI) posted its quarterly earnings results on Tuesday. The company reported $0.67 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.67.
In other news, CEO J Rock Tonkel, Jr. bought 17,500 shares of the stock in a transaction on Friday, May 20th. The shares were bought at an average price of $12.37 per share, with a total value of $216,475.00. Following the completion of the acquisition, the chief executive officer now owns 309,820 shares of the company’s stock, valued at $3,832,473.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Eric F. Billings bought 18,516 shares of the stock in a transaction on Monday, June 6th. The stock was purchased at an average cost of $13.58 per share, for a total transaction of $251,447.28. Following the acquisition, the chairman now directly owns 134,667 shares of the company’s stock, valued at approximately $1,828,777.86. The disclosure for this purchase can be found here.
Arlington Asset Investment Corp. (NYSE:AI) traded up 0.52% during mid-day trading on Tuesday, hitting $13.48. 168,628 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $13.32 and its 200-day moving average price is $12.57. The stock’s market cap is $309.73 million. Arlington Asset Investment Corp. has a one year low of $9.42 and a one year high of $19.53.
A number of research firms have recently commented on AI. Barclays PLC cut their price target on shares of Arlington Asset Investment Corp. from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, May 12th. Zacks Investment Research raised shares of Arlington Asset Investment Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $16.64.
Arlington Asset Investment Corp. is a principal investment firm. The Company acquires and holds a levered portfolio of residential mortgage-backed securities (MBS), consisting of agency MBS and private-label MBS. The Company may invest in other types of residential mortgage assets, such as residential mortgage loans, mortgage servicing rights and government sponsored enterprise (GSE) credit risk transfer securities, as well as other types of assets, including commercial MBS, asset backed securities, other structured securities, commercial mortgage loans, commercial loans, and other real estate-related loans and securities.
