Notable Price Action: What’s Ahead for PennyMac Mortgage Investment Trust After Achieving 1 Year Low?

Notable Price Action: What's Ahead for PennyMac Mortgage Investment Trust After Achieving 1 Year Low?

The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week low and has $14.80 target or 7.00% below today’s $15.91 share price. The 5 months bearish chart indicates high risk for the $1.06B company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $14.80 price target is reached, the company will be worth $74.20 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 657,541 shares traded hands or 20.71% up from the average. PennyMac Mortgage Investment Trust (NYSE:PMT) has risen 22.80% since April 8, 2016 and is uptrending. It has outperformed by 17.15% the S&P500.

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. JMP Securities maintained the shares of PMT in a report on Wednesday, March 9 with “Market Outperform” rating. The firm earned “Buy” rating on Monday, July 27 by Compass Point. The company was maintained on Monday, June 13 by Wood. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) has “Neutral” rating given on Friday, August 7 by Citigroup. Wedbush initiated PennyMac Mortgage Investment Trust (NYSE:PMT) on Thursday, October 6 with “Neutral” rating. The rating was downgraded by Wells Fargo to “Market Perform” on Thursday, February 4. The rating was initiated by Barclays Capital with “Overweight” on Thursday, December 10. Barclays Capital downgraded it to “Equal-Weight” rating and $13 target price in Friday, February 5 report. Compass Point maintained the shares of PMT in a report on Thursday, August 6 with “Buy” rating.

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: Benzinga.com which released: “8 Stocks That Rallied Four Days, Then Sold Off Yesterday” on November 10, 2016, also Nasdaq.com with their article: “Pennymac Mortgage Investment Trust (PMT) Passes Through 13% Yield Mark” published on October 06, 2016, Nasdaq.com published: “Ex-Dividend Reminder: Pennymac Mortgage Investment Trust, New York REIT and …” on October 03, 2016. More interesting news about PennyMac Mortgage Investment Trust (NYSE:PMT) were released by: Businesswire.com and their article: “PennyMac Mortgage Investment Trust Reports 2016 Second Quarter Results” published on August 03, 2016 as well as Businesswire.com‘s news article titled: “PennyMac Mortgage Investment Trust Announces Date for Release of Third Quarter …” with publication date: October 25, 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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