Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PennyMac Financial Services Inc. shares valued at $1,024,200 were sold by Hunt James K on Aug 27 ’24. At $102.42 per share, Hunt James K sold 10,000 shares. The insider’s holdings dropped to 26,821 shares worth approximately $2.88 million following the completion of this transaction.
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Also, MCCALLION ANNE sold 23,829 shares, netting a total of over 2,457,613 in proceeds. Following the sale of shares at $103.14 each, the insider now holds 1,854 shares.
Before that, MCCALLION ANNE had added 23,829 shares to its account. In a trade valued at $2,457,614, the Director bought PennyMac Financial Services Inc. shares for $103.14 each.
As published in a research note from Keefe Bruyette on July 22, 2024, PennyMac Financial Services Inc. [PFSI] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $102. Analysts at Keefe Bruyette upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in early April. As of January 10, 2024, Deutsche Bank has initiated its “Buy” rating for PFSI. Earlier on January 10, 2024, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for PFSI stock which previously was a “an Outperform”.
Analyzing PFSI Stock Performance
During the last five days, there has been a surge of approximately 4.10%. Over the course of the year, PennyMac Financial Services Inc. shares have jumped approximately 21.50%. Shares of the company reached a 52-week high of $108.42 on 09/03/24 and a 52-week low of $81.93 on 01/18/24. A 50-day SMA is recorded $98.23, while a 200-day SMA reached $90.27. Nevertheless, trading volume fell to 0.2 million shares from 0.27 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 106.06, which, if violated, would cause prices to drop to 104.75. In the upper region, resistance lies at 108.48. The next price resistance is at 109.58. RSI (Relative Strength Index) is 67.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.93, which suggests the price will increase in the coming days. Percent R is at 9.55%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
