Alight Capital Management LP Acquires 10,000 Shares of PennyMac Financial Services, Inc. $PFSI

Alight Capital Management LP increased its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 100.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the real estate investment trust’s stock after purchasing an additional 10,000 shares during the quarter. Alight Capital Management LP’s holdings in PennyMac Financial Services were worth $2,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in PennyMac Financial Services in the second quarter worth $26,000. Strs Ohio bought a new position in PennyMac Financial Services in the first quarter worth $30,000. Los Angeles Capital Management LLC bought a new position in PennyMac Financial Services in the fourth quarter worth $31,000. GAMMA Investing LLC lifted its position in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the period. Finally, Clearstead Advisors LLC lifted its position in PennyMac Financial Services by 131.8% in the fourth quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 286 shares during the period. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $81.12 on Thursday. The stock has a 50-day simple moving average of $87.16 and a 200 day simple moving average of $104.46. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. PennyMac Financial Services, Inc. has a 12-month low of $77.67 and a 12-month high of $160.36. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.54 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The firm had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same period in the prior year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. PennyMac Financial Services’s dividend payout ratio is presently 12.75%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 2,925 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $87.50, for a total transaction of $255,937.50. Following the transaction, the chief financial officer directly owned 210,625 shares in the company, valued at approximately $18,429,687.50. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total transaction of $879,900.00. Following the transaction, the chief executive officer owned 60,604 shares in the company, valued at approximately $5,332,545.96. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,925 shares of company stock worth $2,064,138. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Piper Sandler cut their price objective on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Stephens assumed coverage on PennyMac Financial Services in a report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price objective for the company. Finally, Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $117.13.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.