PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 196.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,267 shares of the real estate investment trust's stock after acquiring an additional 26,703 shares during the period. Mackenzie Financial Corp's holdings in PennyMac Mortgage Investment Trust were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in shares of PennyMac Mortgage Investment Trust by 0.4% during the fourth quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust's stock worth $3,333,000 after buying an additional 1,001 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at $25,000. Principal Securities Inc. raised its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 2,288 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 8.6% during the 4th quarter. Sterling Capital Management LLC now owns 31,534 shares of the real estate investment trust's stock worth $397,000 after purchasing an additional 2,484 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $36,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Jones Trading reiterated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. UBS Group lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.50.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $12.15 per share, with a total value of $34,967.70. Following the completion of the acquisition, the director now directly owns 49,254 shares in the company, valued at $598,436.10. This trade represents a 6.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.92% of the company's stock.

PennyMac Mortgage Investment Trust Stock Up 0.6%

Shares of PMT stock traded up $0.08 on Friday, hitting $12.44. The stock had a trading volume of 507,599 shares, compared to its average volume of 795,712. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.35 and a beta of 1.32. The stock's 50 day moving average is $12.76 and its 200-day moving average is $13.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. The business had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.