Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pennymac Mortgage Investment Trust shares valued at $111,976 were sold by Jones Doug on Mar 11 ’24. At $14.34 per share, Jones Doug sold 7,810 shares. The insider’s holdings dropped to 53,311 shares worth approximately $0.73 million following the completion of this transaction.
Also, Preston Paul DuFauchard, Jr. sold 4,961 shares, netting a total of over 69,561 in proceeds. Following the sale of shares at $14.02 each, the insider now holds 44,282 shares.
Before that, Carnahan Scott W. had sold 8,058 shares from its account. In a trade valued at $114,427, the Director traded Pennymac Mortgage Investment Trust shares for $14.20 each. Upon closing the transaction, the insider’s holdings decreased to 8,058 shares, worth approximately $23519.42.
As published in their initiating research note from Deutsche Bank on January 10, 2024, Pennymac Mortgage Investment Trust [PMT] has been a Hold. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in early December. As of February 17, 2023, BTIG Research has decreased its “Buy” rating to a “Neutral” for PMT. Earlier on February 07, 2023, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for PMT stock which previously was a “an Overweight”.
Analyzing PMT Stock Performance
During the last five days, there has been a drop of approximately -4.00%. Over the course of the year, Pennymac Mortgage Investment Trust shares have dropped approximately -8.43%. Shares of the company reached a 52-week high of $15.18 on 01/29/24 and a 52-week low of $13.20 on 02/13/24. A 50-day SMA is recorded $14.11, while a 200-day SMA reached $13.62. Nevertheless, trading volume fell to 1.09 million shares from 0.54 million shares the previous day.
Support And Resistance Levels for Pennymac Mortgage Investment Trust (PMT)
According to the 24-hour chart, there is a support level at 13.56, which, if violated, would cause prices to drop to 13.43. In the upper region, resistance lies at 13.77. The next price resistance is at 13.85. RSI (Relative Strength Index) is 37.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.28, which suggests the price will decrease in the coming days. Percent R is at 86.86%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Pennymac Mortgage Investment Trust subject to short interest?
Stocks of Pennymac Mortgage Investment Trust saw a sharp steep in short interest on Mar 15, 2024 dropping by 30000.0 shares to 1.9 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.93 million shares. A decline of -1.58% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.98 of the overall float, the days-to-cover ratio (short ratio) decline to 2.98.
