Dallas, Texas 03/18/2014 (FINANCIALSTRENDS) – Chimera Investment Corporation (NYSE:CIM) a New York based company with $3.25 billion market cap has initiated talks with hedge fund Leon Cooperman. According to the reports Leon Cooperman which didn’t have any of Chimera Investment Corporation’s shares until quarter ending December 31, 2013 has disclosed in its 13D filing about 7.58%, or 77,886,720 share, stake in the company.
Chimera Investment Corporation (NYSE:CIM) Witnesses Huge Trading
According to the reports, the company witnessed a very huge trading reported around 12.11 million shares during February compared to an average of 6.91 million shares during last 3 months. The company with has witnessed 0.64% gain in the last three trading sessions, 0.96% in past one month and 8.53% on YTD basis. The company’s reported 50-day average of $3.08 and 200 day average of $2.88.
Chimera Investment Corporation Rated as Buy by TheStreet.
The company with a dividend yield of 11.40% and PE ratio of 9.88 witnessed a very high gross profit margin with 92.16% and the net profit was reported at margin of 63.43%. Compared to the industry average of 6.3%, the company witnessed a dip in the revenue by 15.9%. With these factors analysts from TheStreet have recommended it as buy. According to their study, the company is witnessing positive signs in multiple areas like expanding profit margins, increase in stock price during the past year, remarkable return on equity and significant valuation levels.
Chimera Investment Corporation Predicts Earnings Increase in Interest Income.
According to the reports, with tapering measures brought in by Fed in last couple of months and mixed guidance for the next few months, income from interest is likely to increase. Expecting slow and steady rise in interest rate and anticipating drop in prepayment of loans, the company looks forward to earn more interest income.