PennyMac Financial Services Inc.’s recently made public that its Chief Legal Officer STARK DEREK unloaded Company’s shares for reported $0.47 million on Mar 25 ’24. In the deal valued at $89.44 per share,5,255 shares were sold. As a result of this transaction, STARK DEREK now holds 27,084 shares worth roughly $2.47 million.
Then, SPECTOR DAVID sold 3,326 shares, generating $284,941 in total proceeds. Upon selling the shares at $85.67, the Chairman & CEO now owns 644,612 shares.
Before that, SPECTOR DAVID sold 26,451 shares. PennyMac Financial Services Inc. shares valued at $2,276,236 were divested by the Chairman & CEO at a price of $86.05 per share. As a result of the transaction, SPECTOR DAVID now holds 647,938 shares, worth roughly $59.02 million.
Keefe Bruyette upgraded its PennyMac Financial Services Inc. [PFSI] rating to an Outperform from a a Mkt perform in a research note published on April 09, 2024; the price target was increased to $105 from $100. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in early January with a ‘”a Buy”‘ rating. Keefe Bruyette also remained covering PFSI and has decreased its forecast on January 10, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. UBS started covering the stock on December 06, 2023. It rated PFSI as “a Neutral”.
Price Performance Review of PFSI
On Tuesday, PennyMac Financial Services Inc. [NYSE:PFSI] saw its stock jump 1.17% to $91.09. Over the last five days, the stock has gained 3.35%. PennyMac Financial Services Inc. shares have risen nearly 3.08% since the year began. Nevertheless, the stocks have risen 52.68% over the past one year. While a 52-week high of $94.78 was reached on 02/02/24, a 52-week low of $56.16 was recorded on 01/18/24. SMA at 50 days reached $88.15, while 200 days put it at $78.18. A total of 0.22 million shares were traded, compared to the trading of 0.16 million shares in the previous session.
Levels Of Support And Resistance For PFSI Stock
The 24-hour chart illustrates a support level at 89.61, which if violated will result in even more drops to 88.13. On the upside, there is a resistance level at 92.53. A further resistance level may holdings at 93.97. The Relative Strength Index (RSI) on the 14-day chart is 58.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 36.11%. Stochastics %K at 59.54% 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 Mar 15, 2024, growing by 51810.0 shares to a total of 0.94 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.89 million shares. There was a rise of 5.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.24% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.05.
The most recent change occurred on November 15, 2023 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $82 price target.
