BofA update shows where active managers are putting money
Sharon L. Cook, a director at Cherry Hill Mortgage Investment Corp (NYSE:CHMI), recently sold 13,000 shares of the company’s common stock. The shares were sold at a price of $3.64 each, totaling $47,320. This transaction was carried out to cover income tax obligations, as noted in the filing. Following the sale, Cook holds 19,513 shares directly.The $117.53M market cap company has shown strong performance this year, with a 36.36% YTD return. InvestingPro analysis reveals the stock offers a substantial 16.67% dividend yield and has maintained dividend payments for 13 consecutive years. For deeper insights into CHMI’s insider trading patterns and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Cherry Hill Mortgage Investment Corporation reported its fourth-quarter 2024 earnings, with earnings per share (EPS) meeting market forecasts at $0.10. The company’s GAAP net income was $9.1 million, or $0.29 per diluted share, while the book value per common share decreased from $4.02 to $3.82. Cherry Hill Mortgage also announced the expansion of its Board of Directors, appointing Dale S. Hoffman as a new member. Hoffman’s extensive experience in fixed income capital markets is expected to contribute to the company’s strategic initiatives. Additionally, the company adopted an Executive Severance Plan, covering key executive roles in the event of a qualifying termination. This plan includes a severance payment and a non-compete clause for participants. Furthermore, Cherry Hill Mortgage has completed the internalization of its management, which is anticipated to reduce operating expenses in 2025. The company is preparing for a "higher for longer" interest rate environment, which may impact its future performance.
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