Emerald Acquisition Ltd. bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the second quarter, Holdings Channel reports. The institutional investor bought 243,235 shares of the company’s stock, valued at approximately $3,948,000. Emerald Acquisition Ltd. owned approximately 0.35% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC increased its position in shares of PennyMac Mortgage Investment Trust by 0.8% in the first quarter. Squarepoint Ops LLC now owns 12,000 shares of the company’s stock worth $164,000 after buying an additional 100 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 7.1% in the second quarter. Suntrust Banks Inc. now owns 12,167 shares of the company’s stock worth $197,000 after buying an additional 805 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of PennyMac Mortgage Investment Trust during the second quarter worth approximately $216,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 46.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,072 shares of the company’s stock worth $246,000 after buying an additional 5,691 shares in the last quarter. Finally, Menta Capital LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $299,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded down 0.39% during midday trading on Tuesday, reaching $15.25. 214,196 shares of the company were exchanged. The company has a market capitalization of $1.03 billion, a PE ratio of 17.67 and a beta of 0.67. PennyMac Mortgage Investment Trust has a 52 week low of $10.91 and a 52 week high of $16.93. The firm has a 50-day moving average price of $15.30 and a 200-day moving average price of $14.88.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.30. PennyMac Mortgage Investment Trust had a net margin of 26.07% and a return on equity of 4.41%. The company had revenue of $47.60 million for the quarter, compared to analyst estimates of $67.85 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. PennyMac Mortgage Investment Trust’s revenue was down 31.8% on a year-over-year basis. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post $2.52 earnings per share for the current fiscal year.

PMT has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $18.50 target price (up from $17.00) on shares of PennyMac Mortgage Investment Trust in a research note on Monday, June 13th. JMP Securities reaffirmed a “buy” rating on shares of PennyMac Mortgage Investment Trust in a research report on Saturday, June 4th. TheStreet raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Barclays PLC set a $15.00 price target on shares of PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.58.

In other PennyMac Mortgage Investment Trust news, insider Jeffrey Grogin sold 12,694 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $16.23, for a total transaction of $206,023.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

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