Freddie Mac (OTCMKTS:FMCC) Trading 8.6% Higher – Here’s Why

Shares of Freddie Mac (OTCMKTS:FMCC) were up 8.6% during trading on Monday . The stock traded as high as $5.33 and last traded at $5.30. Approximately 979,082 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 3,099,109 shares. The stock had previously closed at $4.88.

Analyst Ratings Changes

A number of brokerages have issued reports on FMCC. Wedbush raised Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price objective for the company in a report on Friday, December 12th. Keefe, Bruyette & Woods lowered their target price on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, December 18th. Zacks Research upgraded shares of Freddie Mac to a “hold” rating in a research report on Monday, December 15th. Finally, BTIG Research assumed coverage on shares of Freddie Mac in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.84.

Freddie Mac Stock Performance

The stock has a market cap of $3.28 billion, a P/E ratio of -252.50 and a beta of 1.83. The company has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $9.28.

About Freddie Mac

Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.

The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.