The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PennyMac Financial Services Inc. shares valued at $1,075,665 were sold by SPECTOR DAVID on Oct 14 ’24. At $107.57 per share, SPECTOR DAVID sold 10,000 shares. The insider’s holdings dropped to 190,604 shares worth approximately $19.06 million following the completion of this transaction.
Also, David Spector purchased 30,000 shares, netting a total of over 3,244,800 in proceeds.
Before that, Perotti Daniel Stanley had sold 10,500 shares from its account. In a trade valued at $1,185,744, the Chief Financial Officer traded PennyMac Financial Services Inc. shares for $112.93 each. Upon closing the transaction, the insider’s holdings decreased to 10,500 shares, worth approximately $23.6 million.
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 drop of approximately -9.80%. Over the course of the year, PennyMac Financial Services Inc. shares have jumped approximately 13.18%. Shares of the company reached a 52-week high of $119.13 on 09/18/24 and a 52-week low of $81.93 on 01/18/24. A 50-day SMA is recorded $107.49, while a 200-day SMA reached $94.93. Nevertheless, trading volume fell to 0.75 million shares from 0.36 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 97.64, which, if violated, would cause prices to drop to 95.25. In the upper region, resistance lies at 103.52. The next price resistance is at 107.01. RSI (Relative Strength Index) is 30.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.93, which suggests the price will decrease in the coming days. Percent R is at 90.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
