Freddie Mac (OTC:FMCC) Shares Up 1.2% – Here’s What Happened

Shares of Freddie Mac (OTC:FMCC) were up 1.2% during mid-day trading on Thursday . The company traded as high as $6.78 and last traded at $6.66. Approximately 3,043,233 shares traded hands during trading, an increase of 16% from the average daily volume of 2,619,196 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Freddie Mac has a consensus rating of “Sell” and an average price target of $9.00.

Freddie Mac Stock Down 3.3%

The company has a market capitalization of $4.19 billion, a P/E ratio of -322.00 and a beta of 1.79. The business’s fifty day moving average is $8.29.

The Federal Home Loan Mortgage Corporation, known as Freddie Mac, is a government-sponsored enterprise created by Congress in 1970 to support the U.S. secondary mortgage market. Its statutory mission is to provide liquidity, stability and affordability to the nation’s residential mortgage market by buying mortgages from lenders, packaging them into mortgage-backed securities (MBS), and guaranteeing the payment of principal and interest to investors in those securities.

Freddie Mac’s core activities include purchasing mortgages originated by banks and other lenders, securitizing pools of single-family and multifamily loans into agency MBS, and offering credit risk-transfer and liquidity tools designed to broaden access to mortgage finance.