Chimera funding corp chief funding officer buys $1.48 million in inventory

Jack Lee Macdowell Jr, the Chief Funding Officer of Chimera Funding Corp (NYSE:CIM), just lately acquired a major quantity of the corporate’s widespread inventory, in keeping with a latest SEC submitting. The timing seems strategic, as InvestingPro evaluation signifies the corporate is presently buying and selling at a sexy P/E ratio of 4.4 and presents a considerable 10% dividend yield. Macdowell bought a complete of 100,000 shares over two transactions. The shares have been purchased at weighted common costs starting from $14.65 to $14.99, amounting to a complete funding of roughly $1.48 million.

The primary transaction happened on December 6, the place Macdowell acquired 50,000 shares at a mean value of $14.70. The second transaction occurred on December 9, with one other 50,000 shares bought at a mean value of $14.91. Following these acquisitions, Macdowell now straight owns 100,000 shares of Chimera Funding Corp.

In different latest information, Chimera Funding Company continues to make vital strides. The corporate just lately introduced a GAAP internet revenue of $113.7 million for the third quarter, which interprets to $1.39 per share. This strong monetary efficiency is additional enhanced by an financial return on GAAP e-book worth of 6.8% for the quarter.

Chimera additionally revealed the appointment of economic trade veteran Cynthia B. Walsh to its Board of Administrators. Walsh’s in depth expertise consists of management roles at Walsh Advisors and Nationwide Bond and Belief, and her appointment aligns with Chimera’s dedication to board range.

By way of strategic development, Chimera introduced the acquisition of the Palisades Group, a transfer projected to extend the corporate’s mixed mortgage and actual property administration to over $30 billion. The corporate can also be exploring new alternatives in dwelling fairness lending and non-agency securities, aiming for double-digit returns.

These latest developments mirror Chimera’s ongoing efforts to boost operational efficiency and shareholder returns. The corporate’s administration is contemplating resecuritizing callable debt, a method that might doubtlessly enhance dividends and enhance portfolio returns.

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