Freddie Mac (OTCMKTS:FMCC) Shares Up 4.8% – Time to Buy?
by Jessica Moore · The Cerbat GemFreddie Mac (OTCMKTS:FMCC – Get Free Report) shares were up 4.8% during mid-day trading on Friday . The company traded as high as $7.75 and last traded at $7.70. Approximately 249,407 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,752,640 shares. The stock had previously closed at $7.35.
Analyst Upgrades and Downgrades
FMCC has been the topic of several recent research reports. Zacks Research raised shares of Freddie Mac to a “hold” rating in a research report on Monday, December 15th. Wedbush upgraded shares of Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price target for the company in a research report on Friday, December 12th. BTIG Research assumed coverage on Freddie Mac in a research note on Monday. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.84.
Read Our Latest Stock Analysis on Freddie Mac
Freddie Mac Price Performance
The firm has a market capitalization of $4.79 billion, a P/E ratio of -736.10 and a beta of 1.84. The firm’s 50 day simple moving average is $9.60 and its two-hundred day simple moving average is $9.78.
Freddie Mac Company Profile
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.