GAMMA Investing LLC Raises Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

GAMMA Investing LLC lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 4,354.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,754 shares of the real estate investment trust's stock after purchasing an additional 29,086 shares during the period. GAMMA Investing LLC's holdings in PennyMac Mortgage Investment Trust were worth $436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $25,000. Principal Securities Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth 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. New Age Alpha Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $36,000. Allworth Financial LP acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $39,000. Finally, Sandy Spring Bank acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $49,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PMT. UBS Group decreased their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Jones Trading restated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.50.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch acquired 2,878 shares of the company's stock in a transaction on Thursday, April 24th. The shares were bought 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 owns 49,254 shares in the company, valued at $598,436.10. This trade represents a 6.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is owned by insiders.

PennyMac Mortgage Investment Trust Stock Up 0.5%

Shares of NYSE PMT traded up $0.06 during mid-day trading on Monday, hitting $12.50. The company had a trading volume of 600,549 shares, compared to its average volume of 794,119. The company has a market capitalization of $1.09 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.63 and a quick ratio of 0.63. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $14.98. The business's 50-day simple moving average is $12.61 and its 200 day simple moving average is $13.20.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.39). The company had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 40.42% and a return on equity of 8.87%. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

About PennyMac Mortgage Investment Trust

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.