Chimera Investment (NYSE:CIM) Shares Cross Above 200-Day Moving Average – Should You Sell?

Chimera Investment Corporation (NYSE:CIM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.99 and traded as high as $13.38. Chimera Investment shares last traded at $13.2850, with a volume of 424,824 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Trading Up 1.7%

The stock’s fifty day simple moving average is $13.22 and its 200-day simple moving average is $12.99. The firm has a market cap of $1.13 billion, a PE ratio of -16.85 and a beta of 1.71. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.The firm had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $102.35 million.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Chimera Investment by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 7,651,505 shares of the real estate investment trust’s stock valued at $95,108,000 after buying an additional 208,112 shares in the last quarter. Thornburg Investment Management Inc. increased its position in shares of Chimera Investment by 5.0% during the fourth quarter. Thornburg Investment Management Inc. now owns 5,268,481 shares of the real estate investment trust’s stock worth $65,487,000 after purchasing an additional 249,127 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Chimera Investment by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,975,021 shares of the real estate investment trust’s stock worth $24,554,000 after purchasing an additional 43,419 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Chimera Investment by 21.7% during the third quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust’s stock worth $22,095,000 after purchasing an additional 297,709 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Chimera Investment by 2.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,547,432 shares of the real estate investment trust’s stock valued at $21,463,000 after acquiring an additional 35,425 shares in the last quarter. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.