Investors take profits in Orchid Island Capital after Q2 results


Q2 net income of $10.6M included net interest income of $5.9M, net gains of $5.8M, and some small charges. $279.5M of MBS were sold during quarter resulting in net gain of $3M; the remainder of the gains were fair value adjustments.

Book value per share of $13.05 up from $12.47 at the end of Q1. The current price of $13.24 is a slight premium to book - pricey in the MBS sector at the moment.

Previously: Orchid Island Capital EPS of $1.17

Today's 3.6% decline in ORC comes after a 15% run higher since the end of Q1.

Comments (4)
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
     
    Totally false title. Had the market not tanked this stock would be still going strong.
    31 Jul 2014, 01:40 PM Reply Like
  • Stock Market Mike
    , contributor
    Comments (3512) | Send Message
     
    ORC has traditionally not had great coverage. I can recall many times where it was rising when the market was selling off.

     

    I think it's more likely that someone with weight noticed the book value disparity (ORC was over $14/share at the time) and did some shorting. If not for the uptick rule being changed years ago, it'd probably still be up there.

     

    -Mike
    31 Jul 2014, 03:40 PM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
     
    No one shorted ORC ~~ Orc is down just like 99% of the market.

     

    Orc has no coverage, go listen to the conference call.

     

    There is really not much of a disparity between the trading price and the book value of ORC as the current BV is over 13.
    31 Jul 2014, 03:44 PM Reply Like
  • mrmedusa
    , contributor
    Comments (561) | Send Message
     
    Picked a good day to buy more.
    31 Jul 2014, 11:24 PM Reply Like
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