naturalborninvestor
4年前
Q1 2021 out - making good progress
FIRST QUARTER 2021 FINANCIAL HIGHLIGHTS
During the first quarter we continued strengthening our balance sheet by reducing debt and leverage, while improving liquidity and shareholders' equity. First quarter financial results and highlights included the following:
GAAP book value per share was $4.27 at March 31, 2021, an increase of 1.7% from $4.20 at December 31, 2020.
Economic book value(2) per share of $4.02 at March 31, 2021.
GAAP net income of $8.0 million, or $0.13 per basic and diluted share.
Core earnings(1) of $6.1 million, or $0.10 per basic and diluted share.
Economic return on GAAP book value(3) was 3.1% for the quarter.
2.19% annualized net interest margin (1)(4)(5) on our investment portfolio.
Recourse leverage was 2.0x at March 31, 2021.
On March 23, 2021, we declared a first quarter common dividend of $0.06 per share.
Repurchased $6.7 million in aggregate principal amount of our convertible senior unsecured notes at an average discount of 6.3% to par value.
Koopa Troopa
5年前
Unfortunately yes, I am not going to sell this low. Too stubborn.
I must admit, I ALMOST executed a tactful trade. After the divvy was suspended, I placed a good sized sell at $3.80. The stock had closed Friday at about $4.02. I thought I had a good shot at $3.80. Monday open and day high was $3.72!! Missed by pennies. If that trade had executed, it would have preserved about $5K compared to the current SP...
Honestly, when plans like that don't quite work, all you can do is stomach it and move on. As I'm sure you know :)
Looking like sub-$2 is likely, but we all know this WILL recover. Questions are how low will it go first, and how long will the recovery take. Same gamble taking place all over the market. Best of luck to you and all.
$WMC$
Sean Portman
5年前
I try to be good :). I think buying low is always good, and if you’re not a daily trader, or want to swap shares or trade them, adding when it’s low and increasing your position is very smart. Of course there’s no guarantees that there won’t be companies that go belly up from this craziness, but that can’t really be helpedz But it seems like many stocks I’ve looked at on nyse or Nasdaq don’t really have a huge volume spike. A bit of course, but not a whole lot. As in many of the shareholders are pressing the sell button and are running away. This is a comparison to the volume before the corona virus and I don’t have numbers, just things I’ve seen and just stood out.
(So it still could be that the same amount of volume could drop the market as much because of the lack of willingness to buy so having to sell at a cheaper price and just a domino effect.)
Let’s add betting that it’s going to fall or shorting or borrowing shares with a promise to return and you’re holding as the market goes lower so you can buy them back at a cheaper price and return them to the original holder and keep the money from the spread. So if someone borrows 10000 shares at 10.50 or a there about price where there could be a selling of 10000shares, which might be a spread down to let’s say 10.25. Now you have in your account somewhere between 125-150k dollars. Not like you can take it and run to the Bahamas. It’s all regulated and controlled money. You’d see a selling of 10000 shares pushing price down just like if someone had a market buy order. Now you’re betting and hoping it won’t go up cause you’d have to buy higher and add your own cash. You’re in this trade already for 125-150k dollars. Let’s say hundreds do this because we all wonder what if it goes down. Well it is now, per say. The next trade might be someone selling shares or it could be another person shorting or borrowing shares. By the end of the day, you start seeing the price start to rise after falling because usually around 2:30ish EST is a good time to start looking for 10000shares to buy at a let’s say 8.25 price. Weather your buying on the ask or bid. You just spent about $82500 buying back with your cash and you electronically return to owner and keep the remainder. There’s fees involved and it’s obviously a little more involved than that, but that’s basically it. The fact that market so called “recovers” huge percentage gain in the last 1-2 hours of market trading shows this pattern. The problem isn’t when one does it, the problem is when billion dollar hedge funds do it when a lot of the market is already trading at a bloated inflated per share price so. As in share to dollar value as an example, aa/pl is trading or was trading last I looked at like 20 times the actual share value. Why would you buy it? At that price? Because you had a good chance of being able to sell it even higher to the next buy and profit because it’s a very liquid market. Let’s raise the stakes just a bit and this is just a personal unproven opinion....what happens when a country does it to the USA market? Not trying to make this political, but in my opinion the fact that we had the gain we could lose where many will suffer their gains for the last few years, as a country, we had gains to lose. We had an economy to lose from, we had job growth to lose from. In this case falling from higher is much better than being under and adding losses while already under water. Going further into the virus and oil and China and market crash and politics would really not be worthwhile in this convo, nor really want to publicly, but I’m just going to say, that this market fiasco is hurting but we’re gonna get back up. This will hurt many and maybe even the next generation, but we’re going to prepare the next generation with fixing the potholes we fell in and we’re going to recover. Cause we’re Americans and we’re the hardest working country and therefore it’s earned.
Koopa Troopa
5年前
In the early days of the market sell off, WMC looked to be a mildly safe investment, being real estate asset backed, dividends, etc... but the bottom appears to have dropped out and is now trading at all time lows... all I can find on it is the CEO has been purchasing shares, latest is 20K shares at about 5$ on Monday. I believe at these levels you can't lose, but where is bottom and why has it spiraled down so far!!
I know this board is pretty much dead, but if anyone is following this, thoughts are welcome...
$WMC$