PennyMac Financial Services Inc (NYSE:PFSI) shares shot up 6.1% on Friday . The stock traded as high as $23.92 and last traded at $23.34. 579,189 shares were traded during mid-day trading, an increase of 124% from the average session volume of 258,866 shares. The stock had previously closed at $22.00.
Several analysts have recently issued reports on PFSI shares. Wedbush reaffirmed an “outperform” rating on shares of PennyMac Financial Services in a report on Thursday, April 4th. JMP Securities reaffirmed a “hold” rating on shares of PennyMac Financial Services in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.00.
The firm has a market capitalization of $1.81 billion, a PE ratio of 9.01, a P/E/G ratio of 0.83 and a beta of 0.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.17.
In related news, CEO David Spector sold 39,940 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $22.60, for a total transaction of $902,644.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anne Mccallion sold 3,463 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.25, for a total value of $77,051.75. The disclosure for this sale can be found here. Insiders have sold a total of 116,140 shares of company stock worth $2,633,679 over the last ninety days. Insiders own 22.17% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PFSI. Bessemer Group Inc. purchased a new position in PennyMac Financial Services during the fourth quarter valued at approximately $117,000. Citigroup Inc. boosted its stake in PennyMac Financial Services by 10.6% in the fourth quarter. Citigroup Inc. now owns 5,982 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 573 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in PennyMac Financial Services by 223.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,344 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 4,380 shares during the period. PEAK6 Investments LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $248,000. Finally, Stone Ridge Asset Management LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $257,000. Institutional investors own 30.30% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “PennyMac Financial Services (PFSI) Shares Up 6.1%” was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/05/05/pennymac-financial-services-pfsi-shares-up-6-1.html.
PennyMac Financial Services Company Profile (NYSE:PFSI)
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.
See Also: What is a Leveraged Buyout (LBO)?
Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.