Today, PennyMac Mortgage Investment Trust (PMT) Earns “Buy” Rating from JMP Securities

Today, PennyMac Mortgage Investment Trust (PMT) Earns “Buy” Rating from JMP Securities

PennyMac Mortgage Investment Trust (NYSE:PMT)‘s stock had its “buy” rating reiterated by stock analysts at JMP Securities in a report issued on Sunday.

A number of other brokerages also recently commented on PMT. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Wedbush initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $16.75 target price on the stock. Nomura restated a “hold” rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Friday, November 4th. Keefe, Bruyette & Woods lowered their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. Finally, Bank of America Corp. downgraded PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.78.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded down 0.24% during trading on Friday, reaching $16.29. The company’s stock had a trading volume of 235,659 shares. PennyMac Mortgage Investment Trust has a one year low of $10.91 and a one year high of $16.93. The stock has a 50-day moving average of $15.43 and a 200 day moving average of $15.52. The firm has a market capitalization of $1.09 billion, a P/E ratio of 19.44 and a beta of 0.62.

In other news, Director Scott W. Carnahan bought 3,341 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, September 21st. The stock was acquired at an average price of $15.22 per share, with a total value of $50,850.02. Following the completion of the acquisition, the director now directly owns 49,203 shares of the company’s stock, valued at $748,869.66. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in PMT. Norges Bank purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $10,505,000. BlackRock Fund Advisors boosted its position in shares of PennyMac Mortgage Investment Trust by 26.1% in the second quarter. BlackRock Fund Advisors now owns 3,231,164 shares of the company’s stock worth $52,442,000 after buying an additional 669,508 shares during the last quarter. Yorktown Management & Research Co Inc boosted its position in shares of PennyMac Mortgage Investment Trust by 133.6% in the third quarter. Yorktown Management & Research Co Inc now owns 1,112,900 shares of the company’s stock worth $17,339,000 after buying an additional 636,400 shares during the last quarter. Two Sigma Investments LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 2,699.2% in the fourth quarter. Two Sigma Investments LLC now owns 511,085 shares of the company’s stock worth $7,799,000 after buying an additional 492,827 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 61.4% in the fourth quarter. Advisors Asset Management Inc. now owns 965,821 shares of the company’s stock worth $14,738,000 after buying an additional 367,424 shares during the last quarter. 62.32% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Company Profile

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