PennyMac Mortgage Investment Trust (NYSE:PMT) CEO David Spector Purchases 20,000 Shares

PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) CEO David Spector purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were purchased at an average cost of $13.71 per share, for a total transaction of $274,200.00. Following the completion of the purchase, the chief executive officer now owns 232,574 shares in the company, valued at approximately $3,188,589.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennyMac Mortgage Investment Trust Trading Up 7.8 %

NYSE PMT opened at $14.86 on Friday. The company has a fifty day moving average price of $14.81 and a 200-day moving average price of $15.28. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.42. PennyMac Mortgage Investment Trust has a 1 year low of $11.64 and a 1 year high of $20.72.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Credit Suisse Group lowered their price objective on shares of PennyMac Mortgage Investment Trust to $16.00 in a report on Monday, August 22nd. B. Riley reduced their price objective on shares of PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, July 1st. Finally, Piper Sandler lowered their target price on shares of PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in PennyMac Mortgage Investment Trust by 78.6% in the 2nd quarter. CWM LLC now owns 1,918 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 844 shares during the last quarter. Selective Wealth Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at approximately $62,000. Steward Partners Investment Advisory LLC lifted its holdings in PennyMac Mortgage Investment Trust by 32.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 4,850 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,200 shares during the period. Samalin Investment Counsel LLC boosted its position in PennyMac Mortgage Investment Trust by 119.9% in the first quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 2,834 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 181.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 5,340 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 3,440 shares during the period. 69.07% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Company Profile

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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