Insider Selling: PennyMac Financial Services, Inc. (PFSI) Insider Sells 10,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

David M. Walker also recently made the following trade(s):

  • On Wednesday, July 12th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.99, for a total transaction of $169,900.00.
  • On Tuesday, June 27th, David M. Walker sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.61, for a total transaction of $83,050.00.
  • On Wednesday, June 28th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.74, for a total transaction of $167,400.00.
  • On Friday, June 2nd, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.27, for a total transaction of $162,700.00.
  • On Friday, May 19th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.20, for a total transaction of $162,000.00.

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) opened at 17.20 on Wednesday. The firm has a market capitalization of $404.37 million, a PE ratio of 5.81 and a beta of 0.60. PennyMac Financial Services, Inc. has a 12-month low of $15.65 and a 12-month high of $19.35. The company’s 50 day moving average is $17.25 and its 200 day moving average is $17.06.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.22. PennyMac Financial Services had a net margin of 6.87% and a return on equity of 4.79%. The business had revenue of $201.72 million during the quarter, compared to analyst estimates of $181.89 million. On average, analysts forecast that PennyMac Financial Services, Inc. will post $2.64 earnings per share for the current year.

PennyMac Financial Services declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 21st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 137% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

WARNING: “Insider Selling: PennyMac Financial Services, Inc. (PFSI) Insider Sells 10,000 Shares of Stock” was first reported by BBNS and is owned by of BBNS. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://baseballnewssource.com/markets/david-m-walker-sells-10000-shares-of-pennymac-financial-services-inc-pfsi-stock-updated-updated/1304575.html.

Several institutional investors have recently modified their holdings of PFSI. Victory Capital Management Inc. acquired a new position in shares of PennyMac Financial Services during the first quarter valued at about $101,000. Citigroup Inc. raised its position in shares of PennyMac Financial Services by 1,652.1% in the second quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,799 shares in the last quarter. American International Group Inc. raised its position in shares of PennyMac Financial Services by 7.2% in the first quarter. American International Group Inc. now owns 8,384 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 562 shares in the last quarter. Voya Investment Management LLC acquired a new position in shares of PennyMac Financial Services during the second quarter valued at about $174,000. Finally, Menta Capital LLC acquired a new position in shares of PennyMac Financial Services during the first quarter valued at about $202,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Several research firms have commented on PFSI. Zacks Investment Research cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine upgraded shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Finally, TheStreet lowered shares of PennyMac Financial Services from a “b-” rating to a “c+” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PennyMac Financial Services currently has an average rating of “Buy” and an average price target of $19.86.

About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

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