Short Interest in PennyMac Financial Services Inc (PFSI) Grows By 43.1%
PennyMac Financial Services Inc (NYSE:PFSI) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 926,577 shares, a growth of 43.1% from the February 15th total of 647,402 shares. Based on an average trading volume of 484,931 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.5% of the company’s shares are short sold.
In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $21.29, for a total transaction of $106,450.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 70,500 shares of company stock worth $1,574,866 in the last ninety days. Insiders own 42.06% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter worth about $117,000. Citigroup Inc. boosted its position in shares of PennyMac Financial Services by 10.6% during the 4th quarter. Citigroup Inc. now owns 5,982 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 573 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of PennyMac Financial Services by 223.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,344 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 4,380 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter worth about $248,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter worth about $257,000. 93.24% of the stock is currently owned by institutional investors.
PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The company had revenue of $251.20 million for the quarter, compared to analysts’ expectations of $238.79 million. PennyMac Financial Services had a net margin of 8.91% and a return on equity of 4.80%. As a group, sell-side analysts expect that PennyMac Financial Services will post 2.81 EPS for the current fiscal year.
A number of brokerages have commented on PFSI. JMP Securities reaffirmed a “hold” rating on shares of PennyMac Financial Services in a research report on Wednesday, March 6th. Barclays set a $25.00 price target on shares of PennyMac Financial Services and gave the company a “buy” rating in a research report on Friday, December 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.00.
About PennyMac Financial Services
PennyMac Financial Services, Inc a specialty financial services company, engages in the mortgage banking and investment management activities in the United States. It is involved in the origination, acquisition, and sale of mortgage loans. The company originates first-lien residential conventional and government-insured or guaranteed mortgage loans to allow customers to purchase or refinance their homes.
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