Y Intercept Hong Kong Ltd Decreases Holdings in PennyMac Financial Services, Inc. $PFSI

Y Intercept Hong Kong Ltd trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 54.9% during the third quarter, Holdings Channel reports. The fund owned 16,392 shares of the real estate investment trust’s stock after selling 19,956 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PennyMac Financial Services were worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter worth approximately $39,976,000. Goldentree Asset Management LP purchased a new position in shares of PennyMac Financial Services in the second quarter worth about $29,249,000. Balyasny Asset Management L.P. raised its position in shares of PennyMac Financial Services by 145.1% in the second quarter. Balyasny Asset Management L.P. now owns 286,123 shares of the real estate investment trust’s stock valued at $28,509,000 after purchasing an additional 169,395 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of PennyMac Financial Services by 43.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 400,788 shares of the real estate investment trust’s stock valued at $39,935,000 after buying an additional 121,382 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in PennyMac Financial Services by 192.6% in the 2nd quarter. Edgestream Partners L.P. now owns 82,003 shares of the real estate investment trust’s stock valued at $8,171,000 after buying an additional 53,977 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $147.03 on Thursday. The company’s fifty day moving average is $137.45 and its 200 day moving average is $122.82. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $160.36. The stock has a market cap of $7.64 billion, a PE ratio of 15.84, a PEG ratio of 0.68 and a beta of 1.57.

Insider Buying and Selling

In related news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $145.19, for a total transaction of $1,451,900.00. Following the transaction, the chief executive officer owned 100,604 shares in the company, valued at $14,606,694.76. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 8,775 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $126.67, for a total transaction of $1,111,529.25. Following the completion of the sale, the chief financial officer owned 216,475 shares in the company, valued at approximately $27,420,888.25. This trade represents a 3.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 80,076 shares of company stock worth $10,512,190. 15.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on PennyMac Financial Services from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wall Street Zen lowered shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings downgraded shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Zacks Research upgraded PennyMac Financial Services to a “hold” rating in a research report on Friday, December 19th. Finally, BTIG Research boosted their price objective on PennyMac Financial Services from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.43.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.