Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pennymac Mortgage Investment Trust shares valued at $10,138 were purchased by Lynch Catherine A. on Apr 26 ’24. At $14.19 per share, Lynch Catherine A. acquired 715 shares. The insider’s holdings grew to 33,915 shares worth approximately $0.49 million following the completion of this transaction.
Also, Jones Doug sold 7,810 shares, netting a total of over 111,976 in proceeds. Following the sale of shares at $14.34 each, the insider now holds 53,311 shares.
Before that, Preston Paul DuFauchard, Jr. had sold 4,961 shares from its account. In a trade valued at $69,561, the Director traded Pennymac Mortgage Investment Trust shares for $14.02 each. Upon closing the transaction, the insider’s holdings decreased to 4,961 shares, worth approximately $0.63 million.
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 surge of approximately 4.45%. Over the course of the year, Pennymac Mortgage Investment Trust shares have dropped approximately -4.15%. 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 $14.09, while a 200-day SMA reached $13.63. Nevertheless, trading volume fell to 1.08 million shares from 0.59 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 14.06, which, if violated, would cause prices to drop to 13.80. In the upper region, resistance lies at 14.51. The next price resistance is at 14.69. RSI (Relative Strength Index) is 57.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 7.49%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
