Senvest Management LLC Acquires 91,300 Shares of PennyMac Financial Services, Inc. $PFSI

Senvest Management LLC increased its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 21.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508,633 shares of the real estate investment trust’s stock after acquiring an additional 91,300 shares during the period. PennyMac Financial Services comprises 1.5% of Senvest Management LLC’s investment portfolio, making the stock its 26th biggest holding. Senvest Management LLC owned 0.98% of PennyMac Financial Services worth $44,455,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in PennyMac Financial Services by 7,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 228 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new stake in shares of PennyMac Financial Services in the second quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of PennyMac Financial Services in the first quarter valued at approximately $30,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $84.29 on Friday. The company has a market capitalization of $4.38 billion, a PE ratio of 8.96, a PEG ratio of 0.59 and a beta of 1.44. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock’s 50 day moving average price is $83.53 and its 200-day moving average price is $95.46. PennyMac Financial Services, Inc. has a twelve month low of $77.67 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business’s revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 earnings per share. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 9.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.75%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Barclays cut PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $107.00 to $93.00 in a research note on Tuesday, July 7th. Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, BTIG Research lowered their target price on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.62.

Insider Activity

In related news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the transaction, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. The trade was a 14.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gregory L. Hendry sold 2,177 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total transaction of $189,159.53. Following the transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,254,829.52. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,045 shares of company stock valued at $1,565,470 in the last ninety days. 15.80% of the stock is currently owned by insiders.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.