Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $16.82.

Several equities research analysts recently commented on PMT shares. Zacks Investment Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 18th. Wedbush began coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, October 5th. They set a “neutral” rating and a $16.75 target price for the company. Keefe, Bruyette & Woods decreased their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. Barclays PLC set a $15.00 target price on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research report on Monday, November 21st. Finally, Nomura reaffirmed a “hold” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Friday, November 4th.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 16.29 on Friday. PennyMac Mortgage Investment Trust has a 52 week low of $10.91 and a 52 week high of $16.93. The company has a 50 day moving average of $15.43 and a 200-day moving average of $15.52. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 19.44 and a beta of 0.62.

In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan acquired 3,341 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Wednesday, September 21st. The stock was bought at an average cost of $15.22 per share, with a total value of $50,850.02. Following the completion of the transaction, the director now owns 49,203 shares of the company’s stock, valued at $748,869.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its stake in PennyMac Mortgage Investment Trust by 27.5% in the second quarter. Ameriprise Financial Inc. now owns 20,961 shares of the company’s stock valued at $340,000 after buying an additional 4,527 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in PennyMac Mortgage Investment Trust by 5.6% in the second quarter. Janney Montgomery Scott LLC now owns 25,259 shares of the company’s stock valued at $385,000 after buying an additional 1,343 shares in the last quarter. First Trust Advisors LP acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at $1,609,000. California Public Employees Retirement System boosted its stake in PennyMac Mortgage Investment Trust by 7.5% in the second quarter. California Public Employees Retirement System now owns 310,700 shares of the company’s stock valued at $5,043,000 after buying an additional 21,600 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in PennyMac Mortgage Investment Trust by 40.5% in the second quarter. SG Americas Securities LLC now owns 40,684 shares of the company’s stock valued at $660,000 after buying an additional 11,733 shares in the last quarter. 62.32% of the stock is owned by institutional investors.

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PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

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