Stock Traders Purchase High Volume of Call Options on PennyMac Mortgage Investment Trust (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) saw some unusual options trading on Wednesday. Traders acquired 2,639 call options on the company. This is an increase of approximately 1,133% compared to the typical daily volume of 214 call options.

In other news, Director Scott W. Carnahan bought 39,507 shares of the stock in a transaction on Wednesday, March 18th. The shares were bought at an average price of $5.68 per share, with a total value of $224,399.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank P. Willey bought 20,000 shares of the stock in a transaction on Tuesday, March 24th. The stock was purchased at an average cost of $5.64 per share, for a total transaction of $112,800.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 2,956 shares of company stock worth $60,677. 2.45% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PMT. Concorde Asset Management LLC raised its stake in PennyMac Mortgage Investment Trust by 4.2% during the 4th quarter. Concorde Asset Management LLC now owns 10,966 shares of the real estate investment trust’s stock valued at $244,000 after purchasing an additional 444 shares during the period. Catalyst Capital Advisors LLC raised its stake in PennyMac Mortgage Investment Trust by 8.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 5,710 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 460 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in PennyMac Mortgage Investment Trust by 2.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 26,870 shares of the real estate investment trust’s stock valued at $599,000 after purchasing an additional 530 shares during the period. Versant Capital Management Inc raised its stake in PennyMac Mortgage Investment Trust by 60.6% during the 4th quarter. Versant Capital Management Inc now owns 1,421 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 536 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in PennyMac Mortgage Investment Trust by 0.4% during the 4th quarter. Public Sector Pension Investment Board now owns 223,830 shares of the real estate investment trust’s stock valued at $4,989,000 after purchasing an additional 900 shares during the period. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on PMT shares. Nomura reaffirmed a “buy” rating and issued a $24.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Sunday, February 9th. ValuEngine downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, February 18th. Compass Point started coverage on PennyMac Mortgage Investment Trust in a research note on Monday, December 2nd. They issued a “neutral” rating and a $22.50 price objective on the stock. Finally, Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $23.92.

NYSE PMT opened at $12.85 on Friday. The stock’s 50-day moving average price is $18.89 and its 200-day moving average price is $21.70. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. PennyMac Mortgage Investment Trust has a 52 week low of $3.50 and a 52 week high of $23.79. The company has a market capitalization of $573.94 million, a P/E ratio of 5.27 and a beta of 0.75.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. PennyMac Mortgage Investment Trust had a return on equity of 12.68% and a net margin of 46.31%. The firm had revenue of $155.04 million for the quarter, compared to the consensus estimate of $133.35 million. During the same quarter last year, the company earned $0.63 earnings per share. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 2.18 EPS for the current year.

About PennyMac Mortgage Investment Trust

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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