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 $12,629 were purchased by Lynch Catherine A. on Aug 08 ’24. At $13.29 per share, Lynch Catherine A. acquired 950 shares. The insider’s holdings grew to 36,794 shares worth approximately $0.5 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Lynch Catherine A. purchased 1,172 shares, netting a total of over 15,986 in proceeds. Following the buying of shares at $13.64 each, the insider now holds 35,844 shares.
Before that, Lynch Catherine A. had added 757 shares to its account. In a trade valued at $10,422, the Director bought Pennymac Mortgage Investment Trust shares for $13.76 each. Upon closing the transaction, the insider’s holdings increased to 757 shares, worth approximately $0.47 million.
As published in a research note from Keefe Bruyette on July 10, 2024, Pennymac Mortgage Investment Trust [PMT] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $15.50 from $15. Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in early January. As of December 06, 2023, UBS has initiated its “Neutral” rating for PMT. Earlier on February 17, 2023, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for PMT stock which previously was a “a Buy”.
Analyzing PMT Stock Performance
During the last five days, there has been a surge of approximately 1.94%. Over the course of the year, Pennymac Mortgage Investment Trust shares have dropped approximately -8.56%. Shares of the company reached a 52-week high of $15.22 on 05/17/24 and a 52-week low of $12.81 on 08/05/24. A 50-day SMA is recorded $13.82, while a 200-day SMA reached $14.13. Nevertheless, trading volume fell to 0.54 million shares from 0.47 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 13.52, which, if violated, would cause prices to drop to 13.37. In the upper region, resistance lies at 13.78. The next price resistance is at 13.90. RSI (Relative Strength Index) is 49.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 24.56%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
