Sunday, June 26, 2022

Monitoring PennyMac Financial Services Inc. (PFSI) after recent insider movements

In a filing, PennyMac Financial Services Inc. revealed its Director MAZZELLA JOSEPH F unloaded Company’s shares for reported $0.35 million on May 26. In the deal valued at $50.12 per share,7,000 shares were sold. As a result of this transaction, MAZZELLA JOSEPH F now holds 120,031 shares worth roughly $ 5.05 million.


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Then, MAZZELLA JOSEPH F sold 13,000 shares, generating $651,595 in total proceeds. Upon selling the shares at $50.12, the Director now owns 351,331 shares.

Before that, Fartaj Vandad sold 12,500 shares. PennyMac Financial Services Inc. shares valued at $561,422 were divested by the Chief Investment Officer at a price of $44.91 per share. As a result of the transaction, Fartaj Vandad now holds 96,134 shares, worth roughly $4.05 million.

Taking this into account, BTIG Research initiated its PennyMac Financial Services Inc. [PFSI] rating to a Buy in a research note published on Tuesday, April 21, 2022; the price target was $60. PT values the company’s stock at a premium of 29.83 to its Tuesday closing price. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who decreased its forecast for the stock in early April from “an Outperform” to “a Mkt perform”. Wells Fargo also remained covering PFSI and has decreased its forecast on March 19, 2021 with a “an Equal weight” recommendation from previously “an Overweight” rating. Jefferies started covering the stock on December 14, 2020. It rated PFSI as “a Buy”.

Price Performance Review of PFSI

On Tuesday, PennyMac Financial Services Inc. [NYSE:PFSI] saw its stock jump 2.41% to $42.10. On the same session, the stock had its day’s lowest price of $41.04, but rose to a high of $42.40. Over the last five days, the stock has lost -2.79%. PennyMac Financial Services Inc. shares have fallen nearly -39.67% since the year began. Nevertheless, the stocks have fallen -33.38% over the past one year. While a 52-week high of $71.52 was reached on 01/03/22, a 52-week low of $38.53 was recorded on 06/17/22. SMA at 50 days reached $47.44, while 200 days put it at $59.02. A total of 0.58 million shares were traded, compared to the trading of 0.77 million shares in the previous session.

Levels Of Support And Resistance For PFSI Stock

The 24-hour chart illustrates a support level at 41.29, which if violated will result in even more drops to 40.49. On the upside, there is a resistance level at 42.65. A further resistance level may holdings at 43.21. The Relative Strength Index (RSI) on the 14-day chart is 36.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.64%. Stochastics %K at 23.93% indicates the stock is a holding.

How much short interest is there in PennyMac Financial Services Inc.?

A steep rise in short interest was recorded in PennyMac Financial Services Inc. stocks on Apr 28, 2022, growing by 0.23 million shares to a total of 3.22 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 2.99 million shares. There was a rise of 7.14%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.40% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.76.

PennyMac Financial Services Inc. [PFSI] – Who Are The Largest Shareholders?

In filings from Highfields Capital Management LP, it is revealed that the company now owns 15,741,237 shares, or roughly 28.91% of the outstanding PFSI shares. In other words, the investor’s shares have fallen by 0 from its previous 13-F filing of 15741237.0. Additionally, MFN Partners Management LP decreased 0.00% of its stake after which the total value it holdings stand at $222,148,444, while T. Rowe Price Associates, Inc. added 15.36% of its stake to hold $221.5 million in the firm. Over the last quarter, The Vanguard Group, Inc. sold -390,863 shares of PennyMac Financial Services Inc., while Senvest Management LLC sold -82,000 shares. At present, BlackRock Fund Advisors is holding 1,843,685 shares valued at $90.38 million. K2 & Associates Investment Manage owned 1,594,651 shares of the company at the time of its most recent 13F filing, worth $78.17 million.

According to FactSet, PennyMac Financial Services Inc.’s share price will average $66.63 in the next year, based on opinions of analysts polled by the firm. This is up nearly 54.46 percent from its previous closing price of $41.11. Analysts expect PennyMac Financial Services Inc. stock to reach the higher price of $90.00, while the lowest price estimate is $53.00.

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