News headlines about Municipal Mortgage & Equity (NASDAQ:MMAC) have trended somewhat positive on Friday, Accern reports. Accern scores the sentiment of press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Municipal Mortgage & Equity earned a news sentiment score of 0.21 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 45.7886392958779 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the media stories that may have effected Accern’s scoring:
- The Home Front: Jennifer Carroll’s election as mayor of Erie signal’s town’s ‘post-Firestone approach to oil and gas regulation’ (coloradoindependent.com)
- MFS Investment Grade Municipal Trust Announces Tender Offer (businesswire.com)
- ValuEngine Lowers Municipal Mortgage & Equity (MMAC) to Hold (americanbankingnews.com)
- Premier in Penticton announcing help for mobile home owners facing redevelopment (msn.com)
- Behind the Veneer of MLK’s Memphis (citylab.com)
Municipal Mortgage & Equity stock opened at $27.25 on Friday. Municipal Mortgage & Equity has a one year low of $18.00 and a one year high of $30.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 10.49 and a quick ratio of 10.49. The firm has a market capitalization of $150.75, a price-to-earnings ratio of 8.66 and a beta of 0.79.
Municipal Mortgage & Equity announced that its board has approved a share repurchase program on Monday, January 8th that authorizes the company to buyback shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
Separately, ValuEngine raised Municipal Mortgage & Equity from a “hold” rating to a “buy” rating in a report on Friday, February 2nd.
In related news, Director Francis X. Gallagher, Jr. purchased 1,000 shares of Municipal Mortgage & Equity stock in a transaction that occurred on Monday, March 26th. The shares were purchased at an average cost of $27.28 per share, with a total value of $27,280.00. Following the transaction, the director now owns 32,278 shares of the company’s stock, valued at approximately $880,543.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Christopher Hunt purchased 3,215 shares of Municipal Mortgage & Equity stock in a transaction that occurred on Thursday, March 29th. The shares were bought at an average cost of $26.94 per share, for a total transaction of $86,612.10. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $67,350. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 4,715 shares of company stock valued at $127,657. 13.58% of the stock is currently owned by company insiders.
Municipal Mortgage & Equity Company Profile
MMA Capital Management, LLC creates and manages investments in housing and renewable energy sectors in the United States and internationally. Its bond portfolio primarily comprises multifamily tax-exempt bonds, as well as other real estate related bond investments. The company offers leveraged bonds; low-income housing tax credits; asset management and administrative services to a limited liability company and a commercial bank; guarantees to third parties related to the receipt of tax credits; and debt capital to develop build, and operate renewable energy systems.
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