(NYSE:PFSI) shares saw heavy trading volume with 226K shares changing hands on Tuesday. Volume was up 108.23% over the stocks average daily volume.
Investors are a little more bullish on PennyMac Financial Services, In of late considering the motion in short interest. The company saw a fall in short interest between September 29, 2017 and October 13, 2017 of -23.78%. Short interest decreased 213,984 over that period. The short-interest ratio decreased to 5.0 and the percentage of shorted shares is 0.03% as of October 13.
PennyMac Financial Services, In (NYSE:PFSI) has been the object of insider selling activity recently. Stanford L. Kurland, Executive Chairman reported the sale of 11,012 shares of PFSI stock. The shares were sold on September 29th for an average price of $18.00. Kurland now owns $421,236 of the stock according to the SEC filing. Jeffrey Grogin, CALO disclosed the sale of 2,369 shares. The shares were purchased at an average price of $18.00. The CALO now owns $162,036 of the stock per the Form 4 SEC filing.
David M. Walker, Chief Risk Officer sold $181,700 worth of shares at a price of $18.17 on October 17th. Walker now owns $545 of stock as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in PFSI. As of the end of the quarter Victory Capital Management Inc had acquired a total of 3,621 shares growing its position 52.0%. The value of the company’s investment in PennyMac Financial Services, In went from $116,000 to $188,000 a change of 62.1% quarter over quarter. As of quarter end Nationwide Fund Advisors had sold 2,800 shares trimming its holdings by 3.0%. The value in dollars increased from $1,582,000 to $1,637,000 increasing 3.5% since the last quarter.
Aperio Group, LLC added to its ownership by buying 6,627 shares an increase of 44.1% in the quarter. Aperio Group, LLC claims 21,662 shares valued at $386,000. The value of the position overall is up by 53.8%. As of the end of the quarter Simplex Trading, LLC had sold 2,117 shares trimming its stake by 46.4%. The value of the investment in PFSI decreased from $76,000 to $43,000 a change of $33,000 quarter to quarter.
The company is so far trading up from yesterday’s close of $19.00. Shares of the company are trading at $19.00 just above the 50 day moving average of $17.94 and which is significantly above the 200 day moving average of $17.13. The 50 day moving average went up by +5.92% and the 200 day average was up $1.87.
PennyMac Financial Services, In’s P/E ratio is 6.42 and the market cap is 446.69M. As of the last earnings report the EPS was $2.96 and is expected to be $2.62 for the current year with 23,510,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.64 and the next full year EPS is projected to be $2.85.
PennyMac Financial Services, Inc. (PFSI), launched on December 31, 2012, 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. PFSI’s mortgage banking subsidiary, PennyMac Loan Services, LLC (PLS), is a non-bank producer and servicer of mortgage loans in the United States. As of December 31, 2016, PLS serviced loans in all 50 states, the District of Columbia, Guam and the United States Virgin Islands, and originated loans in 49 states and the District of Columbia. PFSI’s investment management subsidiary, PNMAC Capital Management, LLC (PCM), is an investment advisor..