GAMMA Investing LLC Increases Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

GAMMA Investing LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 4,354.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,754 shares of the real estate investment trust's stock after acquiring an additional 29,086 shares during the period. GAMMA Investing LLC's holdings in PennyMac Mortgage Investment Trust were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Invesco Ltd. grew its stake in shares of PennyMac Mortgage Investment Trust by 167.5% in the fourth quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock worth $27,369,000 after acquiring an additional 1,361,282 shares during the last quarter. Norges Bank purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at about $5,212,000. Northern Trust Corp increased its holdings in PennyMac Mortgage Investment Trust by 28.6% during the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock valued at $14,420,000 after buying an additional 254,581 shares during the last quarter. GraniteShares Advisors LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth $2,461,000. Finally, Renaissance Technologies LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $2,139,000. Institutional investors own 67.38% of the company's stock.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $12.15 per share, with a total value of $34,967.70. Following the completion of the purchase, the director now directly owns 49,254 shares in the company, valued at $598,436.10. The trade was a 6.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

PennyMac Mortgage Investment Trust Trading Up 0.5%

PMT traded up $0.07 on Friday, reaching $12.43. 2,586,921 shares of the company traded hands, compared to its average volume of 799,174. The company has a market cap of $1.08 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.75. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $14.98. The firm has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $13.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The company had revenue of $44.47 million for the quarter, compared to analysts' expectations of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 8.87% and a net margin of 40.42%. During the same period last year, the business posted $0.39 earnings per share. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.