Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PennyMac Financial Services Inc. shares valued at $905,648 were sold by SPECTOR DAVID on Jun 03 ’24. At $90.56 per share, SPECTOR DAVID sold 10,000 shares. The insider’s holdings dropped to 230,604 shares worth approximately $22.18 million following the completion of this transaction.
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Also, Jones Doug sold 30,000 shares, netting a total of over 2,744,824 in proceeds. Following the sale of shares at $91.49 each, the insider now holds 480,000 shares.
Before that, Perotti Daniel Stanley had sold 11,400 shares from its account. In a trade valued at $1,048,800, the Chief Financial Officer traded PennyMac Financial Services Inc. shares for $92.00 each. Upon closing the transaction, the insider’s holdings decreased to 11,400 shares, worth approximately $23.71 million.
As published in a research note from Keefe Bruyette on April 09, 2024, PennyMac Financial Services Inc. [PFSI] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $105 from $100. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in early January. As of January 10, 2024, Keefe Bruyette has decreased its “an Outperform” rating to a “Mkt perform” for PFSI. Earlier on December 06, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for PFSI stock.
Analyzing PFSI Stock Performance
During the last five days, there has been a surge of approximately 4.76%. Over the course of the year, PennyMac Financial Services Inc. shares have jumped approximately 8.86%. Shares of the company reached a 52-week high of $95.18 on 07/01/24 and a 52-week low of $81.93 on 01/18/24. A 50-day SMA is recorded $91.30, while a 200-day SMA reached $83.55. Nevertheless, trading volume fell to 69924.0 shares from 0.24 million shares the previous day.
Support And Resistance Levels for PennyMac Financial Services Inc. (PFSI)
According to the 24-hour chart, there is a support level at 92.81, which, if violated, would cause prices to drop to 91.68. In the upper region, resistance lies at 94.80. The next price resistance is at 95.67. RSI (Relative Strength Index) is 62.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 28.28%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
