PennyMac Financial Services (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

Key Points

• PennyMac Financial Services CEO David Spector sold 5,000 shares of the company's stock at an average price of $118.42, resulting in a total sale value of $592,100.
• The company reported a quarterly earnings miss, with earnings per share of $1.02 compared to analysts' expectations of $3.01, despite a revenue increase of 9.5% year-over-year.
• PennyMac's stock has fluctuated between a one-year low of $85.74 and a high of $130.02, and analysts currently maintain a consensus rating of “Moderate Buy” with a target price of $123.50.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 5,000 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $118.42, for a total value of $592,100.00. Following the transaction, the chief executive officer directly owned 120,604 shares in the company, valued at approximately $14,281,925.68. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Spector also recently made the following trade(s):

• On Tuesday, September 23rd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $122.97, for a total value of $614,850.00.
• On Monday, August 18th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.73, for a total value of $528,650.00.

PennyMac Financial Services Stock Performance

PFSI stock traded down $1.56 during midday trading on Tuesday, reaching $116.77. 558,731 shares of the company were exchanged, compared to its average volume of 384,406. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $130.02. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 16.20 and a beta of 1.59. The business has a 50-day moving average price of $112.63 and a two-hundred day moving average price of $102.94. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.The company had revenue of $444.73 million for the quarter, compared to analyst estimates of $547.44 million. During the same quarter in the prior year, the business posted $1.85 EPS. The business's quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. PennyMac Financial Services's dividend payout ratio is presently 16.64%.

Analyst Ratings Changes

Several research firms recently weighed in on PFSI. Wall Street Zen raised PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Monday, September 29th. UBS Group lowered their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of PennyMac Financial Services in a research report on Saturday, September 27th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $129.00 price target on the stock. in a research note on Tuesday. Finally, Barclays raised their price target on shares of PennyMac Financial Services from $119.00 to $136.00 and gave the stock an "overweight" rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.50.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds have recently bought and sold shares of PFSI. GAMMA Investing LLC raised its position in PennyMac Financial Services by 12,101.0% during the first quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock valued at $1,173,000 after purchasing an additional 11,617 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of PennyMac Financial Services by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust's stock worth $429,454,000 after buying an additional 24,055 shares in the last quarter. Lightrock Netherlands B.V. lifted its position in shares of PennyMac Financial Services by 55.1% during the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust's stock worth $13,643,000 after buying an additional 48,312 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its stake in PennyMac Financial Services by 26.3% in the first quarter. Advantage Alpha Capital Partners LP now owns 55,376 shares of the real estate investment trust's stock valued at $5,544,000 after buying an additional 11,528 shares in the last quarter. Finally, Maverick Capital Ltd. grew its position in PennyMac Financial Services by 150.4% in the first quarter. Maverick Capital Ltd. now owns 8,073 shares of the real estate investment trust's stock valued at $808,000 after acquiring an additional 4,849 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Company Profile

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.

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