Weiss Asset Management LP purchased a new position in shares of PennyMac Financial Services Inc (NYSE:PFSI) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 77,791 shares of the real estate investment trust’s stock, valued at approximately $1,730,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PFSI. Bayview Asset Management LLC purchased a new stake in PennyMac Financial Services in the 4th quarter valued at $16,986,000. Long Pond Capital LP grew its holdings in PennyMac Financial Services by 202.8% in the 1st quarter. Long Pond Capital LP now owns 757,000 shares of the real estate investment trust’s stock valued at $16,836,000 after buying an additional 507,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in PennyMac Financial Services by 128.0% in the 4th quarter. Geode Capital Management LLC now owns 485,064 shares of the real estate investment trust’s stock valued at $10,312,000 after buying an additional 272,320 shares in the last quarter. Northern Trust Corp grew its holdings in PennyMac Financial Services by 43.0% in the 4th quarter. Northern Trust Corp now owns 337,412 shares of the real estate investment trust’s stock valued at $7,173,000 after buying an additional 101,429 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in PennyMac Financial Services in the 1st quarter valued at $1,882,000. Hedge funds and other institutional investors own 30.70% of the company’s stock.
Shares of PennyMac Financial Services stock opened at $21.05 on Monday. PennyMac Financial Services Inc has a 52 week low of $18.77 and a 52 week high of $24.50. The firm has a market capitalization of $1.65 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.71 and a beta of 0.46. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.64.
PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). PennyMac Financial Services had a return on equity of 6.57% and a net margin of 11.79%. The firm had revenue of $247.71 million for the quarter, compared to analyst estimates of $246.88 million. Equities analysts forecast that PennyMac Financial Services Inc will post 2.98 earnings per share for the current fiscal year.
PFSI has been the topic of several recent analyst reports. Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, June 5th. Wedbush reaffirmed an “outperform” rating on shares of PennyMac Financial Services in a research note on Thursday, April 4th. Finally, JMP Securities reaffirmed a “hold” rating on shares of PennyMac Financial Services in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.00.
In related news, insider Anne Mccallion sold 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $23.39, for a total transaction of $233,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 39,940 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $22.60, for a total value of $902,644.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,740 shares of company stock worth $2,210,802. 22.17% of the stock is owned by corporate insiders.
About PennyMac Financial Services
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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