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 $11,572 were purchased by Lynch Catherine A. on Oct 25 ’24. At $13.81 per share, Lynch Catherine A. acquired 838 shares. The insider’s holdings grew to 37,632 shares worth approximately $0.51 million following the completion of this transaction.
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Also, Jones Doug sold 37,010 shares, netting a total of over 518,647 in proceeds. Following the sale of shares at $14.01 each, the insider now holds 49,114 shares.
Before that, Jones Doug had added 22,999 shares to its account. In a trade valued at $322,301, the Officer bought Pennymac Mortgage Investment Trust shares for $14.01 each.
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 drop of approximately -2.25%. Over the course of the year, Pennymac Mortgage Investment Trust shares have dropped approximately -9.83%. 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 $14.02, while a 200-day SMA reached $14.03. Nevertheless, trading volume fell to 0.61 million shares from 0.58 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 13.36, which, if violated, would cause prices to drop to 13.25. In the upper region, resistance lies at 13.70. The next price resistance is at 13.93. RSI (Relative Strength Index) is 37.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 79.35%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
