GAMMA Investing LLC Acquires 11,617 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

GAMMA Investing LLC lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 12,101.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,713 shares of the real estate investment trust's stock after acquiring an additional 11,617 shares during the period. GAMMA Investing LLC's holdings in PennyMac Financial Services were worth $1,173,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ProShare Advisors LLC boosted its stake in PennyMac Financial Services by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 2,478 shares during the period. Millennium Management LLC increased its holdings in PennyMac Financial Services by 104.5% during the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock worth $52,967,000 after acquiring an additional 264,956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PennyMac Financial Services by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after acquiring an additional 606 shares during the period. Interval Partners LP lifted its stake in PennyMac Financial Services by 379.7% in the 4th quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust's stock worth $4,016,000 after purchasing an additional 31,123 shares in the last quarter. Finally, Crestline Management LP bought a new position in PennyMac Financial Services in the 4th quarter valued at $974,000. 57.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target on the stock in a report on Tuesday, April 8th. Piper Sandler decreased their target price on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. UBS Group lowered their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

PennyMac Financial Services Price Performance

PFSI stock traded up $1.84 during mid-day trading on Thursday, hitting $94.70. 268,171 shares of the stock were exchanged, compared to its average volume of 318,617. The business has a fifty day moving average price of $96.41 and a 200 day moving average price of $100.32. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.19 and a beta of 1.55.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were paid a $0.30 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. PennyMac Financial Services's dividend payout ratio (DPR) is 18.40%.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 5,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total transaction of $517,200.00. Following the completion of the sale, the chief executive officer now directly owns 150,604 shares in the company, valued at $15,578,477.76. This represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $102.55, for a total value of $273,705.95. Following the completion of the transaction, the executive now directly owns 4,878 shares in the company, valued at $500,238.90. This trade represents a 35.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,579 shares of company stock valued at $3,945,042. Insiders own 15.80% of the company's stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.