Today’s Market Runner: Is Selling PennyMac Mortgage Investment Trust Here a Winning Strategy?

Today's Market Runner: Is Selling PennyMac Mortgage Investment Trust Here a Winning Strategy?

The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) is a huge mover today! The stock increased 1.20% or $0.19 on November 8, hitting $16.06. About 453,859 shares traded hands. PennyMac Mortgage Investment Trust (NYSE:PMT) has risen 16.43% since April 6, 2016 and is uptrending. It has outperformed by 14.48% the S&P500.
The move comes after 5 months negative chart setup for the $1.09 billion company. It was reported on Nov, 8 by Barchart.com. We have $14.94 PT which if reached, will make NYSE:PMT worth $76.30 million less.

Analysts await PennyMac Mortgage Investment Trust (NYSE:PMT) to report earnings on November, 10. They expect $0.14 EPS, down 41.67% or $0.10 from last year’s $0.24 per share. PMTS’s profit will be $9.50 million for 28.68 P/E if the $0.14 EPS becomes a reality. After $0.04 actual EPS reported by PennyMac Mortgage Investment Trust for the previous quarter, Wall Street now forecasts 250.00% EPS growth.

PennyMac Mortgage Investment Trust (NYSE:PMT) Ratings Coverage

Out of 9 analysts covering PennyMac Mortgage Investment Trust (NYSE:PMT), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. PennyMac Mortgage Investment Trust has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Friday, February 5 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. Compass Point upgraded PennyMac Mortgage Investment Trust (NYSE:PMT) on Monday, July 27 to “Buy” rating. As per Thursday, December 10, the company rating was initiated by Barclays Capital. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) has “Buy” rating given on Thursday, August 6 by Compass Point. The firm earned “Neutral” rating on Thursday, October 6 by Wedbush. The firm has “Outperform” rating given on Monday, June 13 by Wood. The rating was downgraded by Citigroup to “Neutral” on Friday, August 7. The firm earned “Market Outperform” rating on Wednesday, March 9 by JMP Securities. Wells Fargo downgraded the stock to “Market Perform” rating in Thursday, February 4 report.

According to Zacks Investment Research, “CPI Card Group Inc. is engaged in financial card production and related services under the VISA, MasterCard, American Express and Discover payment brands. The company offers a single source for cards and other form factors, from financial and prepaid debit to EMV chip and mobile, instant issuance, personalization and fulfillment services. CPI Card Group Inc. is headquartered in Littleton, Colorado.”

More notable recent PennyMac Mortgage Investment Trust (NYSE:PMT) news were published by: Nasdaq.com which released: “Pennymac Mortgage Investment Trust (PMT) Passes Through 13% Yield Mark” on October 06, 2016, also Nasdaq.com with their article: “Ex-Dividend Reminder: Pennymac Mortgage Investment Trust, New York REIT and …” published on October 03, 2016, Businesswire.com published: “PennyMac Mortgage Investment Trust Reports 2016 Second Quarter Results” on August 03, 2016. More interesting news about PennyMac Mortgage Investment Trust (NYSE:PMT) were released by: Businesswire.com and their article: “PennyMac Mortgage Investment Trust Announces Date for Release of Third Quarter …” published on October 25, 2016 as well as Businesswire.com‘s news article titled: “PennyMac Mortgage Investment Trust Reports Fourth Quarter 2015 Results” with publication date: February 03, 2016.

PMT Company Profile

PennyMac Mortgage Investment Trust (PMT), incorporated on May 18, 2009, is a specialty finance firm that invests primarily in residential mortgage loans and mortgage-related assets. The Firm conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries. The Firm operates through two divisions: correspondent production and investment activities. The correspondent production segment represents the Company’s activities aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing, pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS), using the services of PNMAC Capital Management (the Manager or PCM) and PennyMac Loan Services, LLC (PLS or the Servicer), both indirect subsidiaries of PennyMac Financial Services, Inc. (PFSI or PennyMac).

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