Senvest Management LLC Boosts Stock Holdings in PennyMac Financial Services, Inc. $PFSI

Senvest Management LLC raised its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 21.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 508,633 shares of the real estate investment trust’s stock after purchasing an additional 91,300 shares during the period. PennyMac Financial Services accounts for approximately 1.5% of Senvest Management LLC’s portfolio, making the stock its 26th largest holding. Senvest Management LLC’s holdings in PennyMac Financial Services were worth $44,455,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of PennyMac Financial Services by 7,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 228 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC bought a new position in shares of PennyMac Financial Services during the 2nd quarter worth $26,000. GAMMA Investing LLC grew its stake in shares of PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 142 shares during the period. Finally, Strs Ohio bought a new position in shares of PennyMac Financial Services during the 1st quarter worth $30,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $84.29 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Financial Services, Inc. has a fifty-two week low of $77.67 and a fifty-two week high of $160.36. The stock has a market cap of $4.38 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.44. The stock has a fifty day moving average of $83.53 and a 200-day moving average of $95.46.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. During the same period last year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 9.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders 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 annualized dividend and a dividend yield of 1.4%. PennyMac Financial Services’s dividend payout ratio is currently 12.75%.

Insider Activity

In other news, CAO Gregory L. Hendry sold 2,177 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the completion of the transaction, the chief accounting officer directly owned 48,968 shares in the company, valued at approximately $4,254,829.52. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. This represents a 14.16% decrease in their position. 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. Insiders have sold a total of 18,045 shares of company stock worth $1,565,470 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Zacks Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Barclays lowered shares of PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $107.00 to $93.00 in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.62.

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.