On December 9, 2024, Macdowell Jack Lee Jr, Chief Investment Officer at Chimera Investment Corp, purchased 100,000 shares of the company. Following this transaction, the insider now owns a total of 100,000 shares. This transaction is documented in the SEC Filing.
Chimera Investment Corp (CIM, Financial) is a real estate investment trust (REIT) that primarily invests in residential mortgage loans, asset-backed securities, and other real estate-related securities. The company aims to generate income through a combination of interest and capital gains.
The insider's recent purchase is part of a broader trend within the company. Over the past year, there have been two insider buys and zero insider sells, indicating a positive sentiment among insiders towards the company's prospects.
On the day of the purchase, shares of Chimera Investment Corp were trading at $14.81, resulting in a market cap of $1.207 billion. The company's price-earnings ratio stands at 4.50, which is lower than the industry median of 15.88 and also below the company's historical median price-earnings ratio. This valuation metric suggests that the stock may be undervalued compared to its peers and its own historical performance.
The insider's activity, combined with the company's current valuation metrics, may be of interest to investors looking for potential opportunities in the real estate investment sector.
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