Wedbush Begins Coverage on Freddie Mac (OTCMKTS:FMCC)

Equities researchers at Wedbush started coverage on shares of Freddie Mac (OTCMKTS:FMCC) in a report released on Thursday, Benzinga reports. The firm set an “outperform” rating and a $6.00 price target on the stock. Wedbush‘s target price suggests a potential upside of 64.84% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a report on Monday, September 28th. Mizuho set a $4.00 price target on shares of Freddie Mac and gave the stock a “neutral” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.38.

Freddie Mac Stock Down 6.9%

Shares of FMCC stock traded down $0.27 during trading hours on Thursday, hitting $3.64. 4,964,863 shares of the company’s stock were exchanged, compared to its average volume of 2,787,143. The firm has a 50 day moving average of $4.48 and a two-hundred day moving average of $5.89. The firm has a market cap of $2.37 billion, a P/E ratio of 364.36 and a beta of 1.74. Freddie Mac has a fifty-two week low of $2.70 and a fifty-two week high of $11.80.

Freddie Mac Company Profile

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise focused on supporting liquidity, stability and affordability in the U.S. housing market. It operates primarily in the secondary mortgage market rather than making most home loans directly to consumers.

The company purchases residential mortgage loans from approved lenders, providing those institutions with funds to make additional loans. Freddie Mac also pools eligible mortgages into securities that it guarantees and sells to investors.