Transcend Capital Advisors LLC Sells 15,565 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Transcend Capital Advisors LLC reduced its stake in PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) by 46.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,070 shares of the real estate investment trust’s stock after selling 15,565 shares during the quarter. Transcend Capital Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $250,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Selective Wealth Management Inc. acquired a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at $62,000. Samalin Investment Counsel LLC lifted its position in PennyMac Mortgage Investment Trust by 119.9% during the first quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 2,834 shares during the period. Catalyst Capital Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 181.1% during the first quarter. Catalyst Capital Advisors LLC now owns 5,340 shares of the real estate investment trust’s stock worth $90,000 after buying an additional 3,440 shares in the last quarter. Guggenheim Capital LLC bought a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $195,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $213,000. 69.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PMT has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 28th. B. Riley lowered their price target on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, July 1st. Credit Suisse Group reduced their price objective on PennyMac Mortgage Investment Trust to $16.00 in a research note on Monday, August 22nd. Finally, StockNews.com downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.91.

PennyMac Mortgage Investment Trust Stock Down 0.3 %

Shares of NYSE PMT opened at $14.70 on Thursday. The company has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $15.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.45 and a quick ratio of 0.45. PennyMac Mortgage Investment Trust has a 1 year low of $11.64 and a 1 year high of $20.72. The firm has a market cap of $1.33 billion, a PE ratio of -7.71 and a beta of 1.16.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, CEO David Spector purchased 20,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was purchased at an average price of $13.71 per share, with a total value of $274,200.00. Following the completion of the purchase, the chief executive officer now owns 232,574 shares of the company’s stock, valued at $3,188,589.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

PennyMac Mortgage Investment Trust Profile

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating).

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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