Insider Selling: PennyMac Financial Services, Inc. (PFSI) Insider Sells $180,900.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $18.09, for a total value of $180,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

David M. Walker also recently made the following trade(s):

  • On Wednesday, September 20th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $17.55, for a total value of $175,500.00.
  • On Thursday, September 7th, David M. Walker sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $16.72, for a total value of $83,600.00.
  • On Thursday, August 24th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $17.05, for a total value of $170,500.00.
  • On Thursday, July 27th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $17.62, for a total value of $176,200.00.
  • On Wednesday, July 12th, David M. Walker sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.99, for a total value of $169,900.00.

Shares of PennyMac Financial Services, Inc. (NYSE PFSI) opened at 18.05 on Friday. The firm has a 50-day moving average price of $17.46 and a 200 day moving average price of $16.96. PennyMac Financial Services, Inc. has a 1-year low of $15.65 and a 1-year high of $19.35. The company has a market cap of $424.36 million, a PE ratio of 6.10 and a beta of 0.62.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The company had revenue of $201.72 million for the quarter, compared to analysts’ expectations of $181.89 million. PennyMac Financial Services had a net margin of 6.87% and a return on equity of 4.79%. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post $2.64 earnings per share for the current year.

PennyMac Financial Services announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 21st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 137% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “Insider Selling: PennyMac Financial Services, Inc. (PFSI) Insider Sells $180,900.00 in Stock” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://stocknewstimes.com/2017/10/13/insider-selling-pennymac-financial-services-inc-pfsi-insider-sells-180900-00-in-stock.html.

Several equities analysts recently issued reports on the company. BidaskClub upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine upgraded PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Piper Jaffray Companies reiterated a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Finally, Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.25.

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of PennyMac Financial Services by 2.9% during the second quarter. California State Teachers Retirement System now owns 28,126 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 800 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PennyMac Financial Services by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 1,312 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of PennyMac Financial Services by 23.6% during the second quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 2,489 shares during the last quarter. State Street Corp grew its holdings in shares of PennyMac Financial Services by 4.7% during the second quarter. State Street Corp now owns 232,505 shares of the real estate investment trust’s stock valued at $3,881,000 after buying an additional 10,361 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of PennyMac Financial Services by 275.7% during the second quarter. Goldman Sachs Group Inc. now owns 50,305 shares of the real estate investment trust’s stock valued at $840,000 after buying an additional 36,915 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply