Welcome to our dedicated page for Bimini Capital news (Ticker: BMNM), a resource for investors and traders seeking the latest updates and insights on Bimini Capital stock.
Bimini Capital Management, Inc. (BMNM) is an asset manager focused on Agency residential mortgage-backed securities and external investment management. News about Bimini often centers on its earnings results, portfolio performance, advisory revenues from managing Orchid Island Capital, Inc., and developments in its capital allocation and financing structure.
Investors following BMNM news can expect regular updates on quarterly and annual financial results, including net income or loss, book value per share, advisory service revenues, and returns on invested capital for its pass-through and structured MBS sub-portfolios. The company also reports on prepayment trends in its MBS holdings, changes in portfolio composition by issuer and security type, and the impact of repurchase agreement funding costs and hedge positions.
Corporate and strategic announcements are another key component of Bimini’s news flow. Recent disclosures include a Membership Interest Purchase Agreement for Bimini Advisors Holdings, LLC to acquire 80% of Tom Johnson Investment Management, LLC, a registered investment adviser, and board of directors changes such as the resignation of a long-serving director and the appointment of a new independent Class I director. The company has also announced amendments to its stockholder rights plan designed to help preserve net operating loss carryforwards.
Because Bimini serves as the external manager of Orchid Island Capital, Inc., its news releases often discuss Orchid’s equity base, capital raising activity, and the resulting effect on Bimini’s advisory service revenues. For a comprehensive view of BMNM-related developments, readers can use this news page to review earnings releases, transaction announcements, governance updates, and other material events reported through press releases and SEC filings.
Bimini Capital Management will release its first quarter 2023 results on May 11, 2023, after trading closes. An earnings conference call is scheduled for May 12, 2023, at 10:00 AM ET. This call will be accessible via a live audio webcast on their investor relations page. Bimini specializes in investing in residential mortgage-related securities and manages Orchid Island Capital as an external manager, generating revenue through management fees. The company operates from Vero Beach, Florida.
Bimini Capital Management reported a net loss of $12.0 million, or $1.17 per share, for the fourth quarter of 2022. The company’s book value per share is $1.21, with stockholders' equity decreasing to $12.1 million. Advisory service revenues remained stable at $3.3 million, while income from investments fell. The Agency MBS market saw negative returns of 11.9% for 2022, but a 2.1% recovery in Q4. The company added $2.2 million in new MBS during Q4, with unrealized gains of $0.7 million. Bimini will discuss these results on March 10, 2023.
Bimini Capital Management (BMNM) is set to release its fourth quarter 2022 financial results after market close on March 9, 2023. An earnings conference call will follow on March 10, 2023, at 10:00 AM ET, accessible via a live audio webcast on the company's investor relations site.
Bimini primarily invests in residential mortgage-related securities from Fannie Mae, Freddie Mac, and Ginnie Mae. Its subsidiary, Bimini Advisors, serves as the external manager for Orchid Island Capital (NYSE: ORC), earning management fees and overseeing day-to-day operations.
Bimini Capital Management (OTCQB: BMNM) reported a net loss of $3.2 million ($0.31 per share) for Q3 2022, driven by volatile market conditions and rising interest rates. The book value per share decreased to $2.38, down from $3.08. Advisory service revenue was $3.3 million, while net revenues totaled $3.45 million. The company faced significant losses in its Agency MBS portfolio, with Orchid Island Capital reporting a loss of $84.5 million. Management is focusing on maintaining cash reserves until market conditions stabilize.
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