PennyMac Mortgage Investment Trust (NYSE: PMT) is 7.22% higher on its value in year-to-date trading and has touched a low of $3.50 and a high of $22.31 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PMT stock was last observed hovering at around $19.32 in the last trading session, with the day’s loss setting it -0.46% off its average median price target of $19.00 for the next 12 months. It is also 10.19% off the consensus price target high of $21.00 offered by 6 analysts, but current levels are -4.78% lower than the price target low of $18.00 for the same period.
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Currently trading at $18.86, the stock is 0.71% and 4.57% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.34 million and changing -2.38% at the moment leaves the stock 11.32% off its SMA200. PMT registered -15.08% loss for a year compared to 6-month loss of 7.34%. The firm has a 50-day simple moving average (SMA 50) of $18.24 and a 200-day simple moving average (SMA200) of $17.32.
The stock witnessed a 9.33% gain in the last 1 month and extending the period to 3 months gives it a 7.04%, and is -0.58% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.28% over the week and 3.00% over the month.
PennyMac Mortgage Investment Trust (PMT) has around 1 employees, a market worth around $1.85B and $738.40M in sales. Current P/E ratio is 66.88 and Fwd P/E is 8.74. Profit margin for the company is 3.70%. Distance from 52-week low is 438.86% and -15.46% from its 52-week high. The company has generated returns on investments over the last 12 months (0.50%).
PennyMac Mortgage Investment Trust (PMT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for PennyMac Mortgage Investment Trust (PMT) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.60, where 4 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
PennyMac Mortgage Investment Trust is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at $0.63 with sales reaching $171.35M over the same period.The EPS is expected to shrink by -88.70% this year, but quarterly earnings will post 42.50% year-over-year.
PennyMac Mortgage Investment Trust (PMT) Top Institutional Holders
291 institutions hold shares in PennyMac Mortgage Investment Trust (PMT), with 1.61M shares held by insiders accounting for 1.64% while institutional investors hold 77.37% of the company’s shares. The shares outstanding are 98.34M, and float is at 98.09M with Short Float at 2.75%. Institutions hold 76.10% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 17.73 million shares valued at $311.86 million. The investor’s holdings represent 17.95% of the PMT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.37 million shares valued at $182.35 million to account for 10.49% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 4.16 million shares representing 4.21% and valued at over $73.11 million, while Goldman Sachs Group, Inc. holds 3.99% of the shares totaling 3.94 million with a market value of $69.3 million.
PennyMac Mortgage Investment Trust (PMT) Insider Activity
A total of 22 insider transactions have happened at PennyMac Mortgage Investment Trust (PMT) in the last six months, with sales accounting for 11 and purchases happening 11 times. The most recent transaction is an insider sale by Stewart Stacey D., the company’s Director. SEC filings show that Stewart Stacey D. sold 703 shares of the company’s common stock on Feb 17 at a price of $19.68 per share for a total of $13835.0. Following the sale, the insider now owns 34544.0 shares.
PennyMac Mortgage Investment Trust disclosed in a document filed with the SEC on Feb 16 that Carnahan Scott W. (Director) sold a total of 1,494 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $18.90 per share for $28239.0. Following the transaction, the insider now directly holds 55817.0 shares of the PMT stock.
Still, SEC filings show that on Dec 08, Jones Doug (Chf Mortgage Banking Officer) disposed off 9,000 shares at an average price of $17.81 for $0.16 million. The insider now directly holds 65,557 shares of PennyMac Mortgage Investment Trust (PMT).
PennyMac Mortgage Investment Trust (PMT): Who are the competitors?
The company’s main competitors (and peers) include Invesco Mortgage Capital Inc. (IVR) that is trading -72.88% down over the past 12 months. MFA Financial Inc. (MFA) is -46.18% down on the 1-year trading charts. Short interest in the company’s stock has fallen -7.41% from the last report on Jan 14, 2021 to stand at a total of 2.9 million short shares sold with a short interest ratio of 3.38.