Freddie Mac (OTCMKTS:FMCC) Shares Up 6.3% – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) was up 6.3% during trading on Friday . The stock traded as high as $5.89 and last traded at $5.8470. Approximately 1,751,800 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 3,008,717 shares. The stock had previously closed at $5.50.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho started coverage on shares of Freddie Mac in a research note on Monday, May 4th. They set an “outperform” rating and a $9.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research note on Monday, April 20th. Finally, BTIG Research cut shares of Freddie Mac from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Freddie Mac Stock Up 7.9%

The company has a fifty day moving average of $6.24 and a 200 day moving average of $6.87.

Freddie Mac (OTCMKTS:FMCC) last posted its earnings results on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.61 billion. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%. On average, analysts forecast that Freddie Mac will post 0.01 EPS for the current fiscal year.

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.