Freddie Mac (OTCMKTS:FMCC) Stock Falls 4.5% – Here’s Why

Shares of Freddie Mac (OTCMKTS:FMCC) traded down 4.5% during trading on Monday. The company traded as low as $3.25 and last traded at $3.2740. Approximately 244,261 shares traded hands during trading, a decline of 91% from the average session volume of 2,705,213 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Several brokerages recently commented on FMCC. Mizuho set a $4.00 price target on shares of Freddie Mac and gave the stock a “neutral” rating in a research note on Monday, October 12th. Keefe, Bruyette & Woods cut their price objective on shares of Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a research report on Monday, September 28th. Finally, Wedbush assumed coverage on Freddie Mac in a research note on Friday, July 31st. They issued an “outperform” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.88.

Freddie Mac Trading Down 6.4%

The stock’s 50 day moving average price is $4.73 and its two-hundred day moving average price is $5.65. The firm has a market capitalization of $2.09 billion, a PE ratio of 321.32 and a beta of 1.74.

About Freddie Mac

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a U.S. government-sponsored enterprise that supports liquidity, stability and affordability in the residential mortgage market. Chartered by Congress in 1970, the company operates in the secondary mortgage market rather than primarily originating mortgages directly with individual borrowers.

Freddie Mac purchases qualifying single-family and multifamily mortgages from approved lenders, providing those institutions with funds to make additional loans.