Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.82.

PMT has been the topic of a number of research reports. JMP Securities reiterated a “buy” rating on shares of PennyMac Mortgage Investment Trust in a report on Sunday, November 6th. Barclays PLC set a $15.00 target price on shares of PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a report on Monday, November 21st. Nomura restated a “hold” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Friday, November 4th. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating and set a $17.00 price objective on the stock in a report on Wednesday, October 12th. Finally, Wedbush initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, October 5th. They issued a “neutral” rating and a $16.75 price objective on the stock.

In related news, Director Scott W. Carnahan bought 3,341 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were purchased at an average cost of $15.22 per share, with a total value of $50,850.02. Following the transaction, the director now directly owns 49,203 shares of the company’s stock, valued at approximately $748,869.66. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PMT. BlackRock Fund Advisors increased its position in PennyMac Mortgage Investment Trust by 4.7% in the third quarter. BlackRock Fund Advisors now owns 3,382,760 shares of the company’s stock worth $52,703,000 after buying an additional 151,596 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in PennyMac Mortgage Investment Trust by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,489,991 shares of the company’s stock worth $23,214,000 after buying an additional 11,969 shares during the period. Advisors Asset Management Inc. increased its position in PennyMac Mortgage Investment Trust by 3.3% in the third quarter. Advisors Asset Management Inc. now owns 1,260,878 shares of the company’s stock worth $19,644,000 after buying an additional 39,819 shares during the period. Global X Management Co. LLC increased its position in PennyMac Mortgage Investment Trust by 7.3% in the third quarter. Global X Management Co. LLC now owns 1,149,430 shares of the company’s stock worth $17,908,000 after buying an additional 78,162 shares during the period. Finally, Yorktown Management & Research Co Inc increased its position in PennyMac Mortgage Investment Trust by 133.6% in the third quarter. Yorktown Management & Research Co Inc now owns 1,112,900 shares of the company’s stock worth $17,339,000 after buying an additional 636,400 shares during the period. 58.85% of the stock is currently owned by hedge funds and other institutional investors.

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PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 16.47 on Friday. The company’s 50-day moving average is $15.49 and its 200-day moving average is $15.55. PennyMac Mortgage Investment Trust has a 52-week low of $10.91 and a 52-week high of $16.93. The firm has a market capitalization of $1.10 billion, a P/E ratio of 19.65 and a beta of 0.62.

About PennyMac Mortgage Investment Trust

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.

5 Day Chart for NYSE:PMT

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