PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP reduced its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 26.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,381 shares of the real estate investment trust's stock after selling 5,279 shares during the period. Dark Forest Capital Management LP's holdings in PennyMac Financial Services were worth $1,469,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of PennyMac Financial Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock worth $46,352,000 after buying an additional 6,459 shares in the last quarter. JPMorgan Chase & Co. raised its position in PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after acquiring an additional 21,751 shares in the last quarter. Assenagon Asset Management S.A. raised its position in PennyMac Financial Services by 27.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock worth $2,779,000 after acquiring an additional 5,833 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in PennyMac Financial Services in the fourth quarter valued at $518,000. Finally, Barclays PLC boosted its position in shares of PennyMac Financial Services by 505.4% during the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock worth $6,859,000 after purchasing an additional 50,238 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total value of $273,705.95. Following the completion of the sale, the executive now owns 4,878 shares in the company, valued at $500,238.90. The trade was a 35.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 6,839 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $102.12, for a total transaction of $698,398.68. Following the transaction, the chief executive officer now owns 635,554 shares in the company, valued at approximately $64,902,774.48. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,464 shares of company stock valued at $4,540,867. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $96.55 on Wednesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The business's fifty day moving average price is $99.15 and its two-hundred day moving average price is $102.53. The stock has a market cap of $4.97 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The company had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. During the same period in the previous year, the business earned $0.74 EPS. On average, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is presently 20.55%.

Analyst Ratings Changes

A number of research firms recently commented on PFSI. UBS Group decreased their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services currently has an average rating of "Moderate Buy" and a consensus price target of $120.86.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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