DAVIDSON KEMPNER CAPITAL MANAGEMENT LP

Davidson Kempner sells 481,537 shares of AOMR at $7.87, reducing stake to 3.65M shares; all 3 prior AOMR sales were well-timed (90d declines)

Davidson Kempner Capital Management LP, a 10% owner, sold 481,537 shares of Angel Oak Mortgage REIT at $7.87 on 2026-03-20, reducing its position from 4.13M to 3.65M shares. The pattern is notable: across this insider's three prior sales of AOMR shares (on 2025-08-21, 2025-05-15, and 2024-09-17), all three were followed by 90-day declines, establishing a 100% accuracy rate in timing exits. The stock has declined 3.9% over the past 30 days and 4.6% over 90 days, currently trading at $8.29 versus the transaction price of $7.87. The sale coincides with a modest valuation environment (P/E of 6.28) and represents a deliberate reduction in an already-substantial position held by a sophisticated capital manager with a demonstrated pattern of exiting before downturns at this specific name.

10% owner Davidson Kempner sold 595,000 shares at $9.75; stock at $9.63, down 20.2% from 52-week high

Davidson Kempner Capital Management LP, a 10% owner, sold 595,000 shares (4.73M to 4.13M post-transaction) at $9.75 on 2025-08-21, reducing its stake by 12.6%. The stock currently trades at $9.63, well below the 52-week high of $12.06. Notably, the insider's prior two sales at AOMR (2025-05-15 and 2024-09-17) both showed negative 90-day returns of -2.2% and -4.3% respectively, establishing a pattern of well-timed exits at this ticker. The broader cross-ticker track record shows a 100.00% well-timed rate across 3 prior sales with an average 90-day return of -3.4%, indicating consistent prescience in timing departures before subsequent declines. Against this backdrop of demonstrated timing accuracy and a 30-day change of -0.1% following the current sale, the transaction warrants attention as another potential signal that the insider identified a departure point ahead of further weakness.

Davidson Kempner Capital sold 452.7K AOMR shares at $9.75 on 2025-05-15; holds 4.73M shares post-sale.

Davidson Kempner Capital Management LP, a 10% owner, sold 452,659 shares at $9.75, reducing holdings from 5.18M to 4.73M shares (-8.7%). The sale occurred at a price 3.0% below the current price of $10.05 and near the 52-week midpoint between $7.50–$13.10. The insider's cross-ticker track record shows a 100.00% well-timed sell rate across 2 prior transactions with an average 90d return of -4.1%, though at AOMR specifically, the prior 2024 sell was also well-timed (90d return -4.3%). The company trades at a P/E of 6.48 on net income of $20.5M with a market cap of $236.2M. This sale represents a modest reduction in a concentrated position by a significant stakeholder, occurring during a period of recent strength (+29.5% in 30 days) following a longer decline (-4.9% in 90 days).

10% owner Davidson Kempner sold 500,000 shares of AOMR at $10.00 (9/17/24); stock down 19.3% from 52-week high.

Davidson Kempner Capital Management LP, a 10% shareholder, sold 500,000 shares at $10.00 on 2024-09-17, reducing its stake to 5,181,869 shares (5.18M shares) from 5,681,869 shares (5.68M shares). The stock currently trades at $10.57, down 19.3% from its 52-week high of $13.10 and down 12.4% over the past 30 days, indicating deteriorating momentum since the sale. Across all of Davidson Kempner's open-market history, its prior sells exhibited a 90-day well-timed rate of 100.00%, reflecting prior instances where the stock fell after selling; however, this is cross-ticker data and provides limited insight into this specific transaction at AOMR. The REIT's net income is negative at $-273,000.00 and valuation is lean at a P/E of 4.99, suggesting the security may already be repriced for weakness, though the recent sell occurred before the most severe recent declines.