Element Capital Management LLC Buys New Position in PennyMac Mortgage Investment Trust (PMT)

Element Capital Management LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,118 shares of the real estate investment trust’s stock, valued at approximately $200,000.

Other hedge funds also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $192,000. Profund Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $201,000. Envestnet Asset Management Inc. lifted its stake in PennyMac Mortgage Investment Trust by 55.2% in the first quarter. Envestnet Asset Management Inc. now owns 13,644 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 4,850 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $301,000. Finally, Mason Street Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $303,000. Institutional investors own 70.65% of the company’s stock.

In related news, CEO David Spector sold 8,235 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $18.68, for a total transaction of $153,829.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David M. Walker sold 1,538 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Wednesday, April 25th. The shares were sold at an average price of $17.41, for a total transaction of $26,776.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,872 shares of company stock worth $312,080. Company insiders own 2.46% of the company’s stock.

Shares of PennyMac Mortgage Investment Trust opened at $18.86 on Thursday, according to Marketbeat Ratings. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $19.30. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.16 billion, a P/E ratio of 14.51 and a beta of 0.44.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. PennyMac Mortgage Investment Trust had a net margin of 33.00% and a return on equity of 7.28%. The business had revenue of $75.67 million for the quarter, compared to analysts’ expectations of $80.20 million. During the same period in the previous year, the business earned $0.47 earnings per share. analysts predict that PennyMac Mortgage Investment Trust will post 1.55 earnings per share for the current fiscal year.

PMT has been the topic of a number of recent research reports. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. ValuEngine cut PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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