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Ravi Nagarajan
guruek
Articles (5983)  | Author's Website |

NWQ Managers Buy Arlington Asset Investment Corporation (AI)

June 11, 2009 | About:

(GuruFocus, June 11, 2009) Investment Gurus at NWQ Managers have recently initiated a new position in mortgage REIT Arlington Asset Investment Corporation (NYSE:AI), formerly Friedman, Billings, Ramsey Group Inc.(NYSE:FBR). On May 29, 2009, NWQ bought 5.6 million shares of FBR at the average price of $0.38 per share.

Arlington Asset Investment Corporation (NYSE:AI), formerly Friedman, Billings, Ramsey Group, Inc., invests on a leveraged basis in residential mortgage-backed securities (MBS), including collateralized mortgage obligations (CMOs), either issued by a United States Government agency, or guaranteed as to principal and interest by United States Government agencies or United States Government-sponsored entities. Arlington Asset Investment Corporation has a market cap of $70 million; its shares were traded at around $0.44 with and P/S ratio of 0.1.

On June 5, the company announced to assume the name of Arlington Asset Investment Corporation (NYSE:AI), a change from the previous name of Friedman, Billings, Ramsey Group, Inc., in order to distinguish the company from FBR Capital Markets (FBCM). The change is effective on June 10, 2009.

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About the author:

guruek
Ravi Nagarajan is a private investor and Editor of The Rational Walk website. Ravi focuses on applying value investing techniques to find securities trading well below intrinsic business value. Ravi has over 15 years of experience in the financial markets and started investing on a full time basis in 2009. From 1996 to 2009, Ravi held a number of technical and executive level positions in the commercial software industry. Ravi graduated Summa Cum Laude from Santa Clara University with a degree in finance. Visit his website The Rational Walk

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GuruFocus has detected 1 Warning Sign with Arlington Asset Investment Corp $AI.
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