Systematic Financial Management LP purchased a new stake in PennyMac Financial Services Inc (NYSE:PFSI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 54,235 shares of the real estate investment trust’s stock, valued at approximately $1,134,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP grew its position in PennyMac Financial Services by 25.8% during the second quarter. First Trust Advisors LP now owns 25,310 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 5,195 shares in the last quarter. Globeflex Capital L P grew its position in PennyMac Financial Services by 7.2% during the second quarter. Globeflex Capital L P now owns 62,661 shares of the real estate investment trust’s stock worth $1,231,000 after buying an additional 4,182 shares in the last quarter. MetLife Investment Advisors LLC grew its position in PennyMac Financial Services by 75.5% during the second quarter. MetLife Investment Advisors LLC now owns 12,814 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 5,514 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new position in PennyMac Financial Services during the second quarter worth about $625,000. Finally, Long Pond Capital LP purchased a new position in PennyMac Financial Services during the second quarter worth about $12,281,000. Institutional investors own 90.12% of the company’s stock.
Shares of PFSI stock opened at $19.47 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.18 and a quick ratio of 0.18. PennyMac Financial Services Inc has a 12-month low of $18.77 and a 12-month high of $25.20. The stock has a market cap of $488.63 million, a price-to-earnings ratio of 8.85, a PEG ratio of 0.77 and a beta of 0.68.
In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $21.68, for a total transaction of $108,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 25,000 shares of company stock valued at $511,850. Corporate insiders own 45.64% of the company’s stock.
Several equities analysts recently commented on PFSI shares. Zacks Investment Research cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. ValuEngine cut PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Barclays reduced their target price on PennyMac Financial Services from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Finally, Compass Point restated a “hold” rating and set a $23.00 target price on shares of PennyMac Financial Services in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.60.
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PennyMac Financial Services Company Profile
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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