Notable Runner: Does PennyMac Mortgage Investment Trust Have Any Gas After Achieving All-Time Low?

Notable Runner: Does PennyMac Mortgage Investment Trust Have Any Gas After Achieving All Time Low?

The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) reached all time low today, Nov, 10 and still has $14.86 target or 7.00% below today’s $15.98 share price. This indicates more downside for the $1.07 billion company. This technical setup was reported by Barchart.com. If the $14.86 PT is reached, the company will be worth $74.90 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 170,798 shares traded hands. 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. The firm has “Market Perform” rating given on Thursday, February 4 by Wells Fargo. The company was downgraded on Friday, August 7 by Citigroup. Wood maintained the stock with “Outperform” rating in Monday, June 13 report. The rating was maintained by Compass Point with “Buy” on Thursday, August 6. Barclays Capital downgraded PennyMac Mortgage Investment Trust (NYSE:PMT) rating on Friday, February 5. Barclays Capital has “Equal-Weight” rating and $13 price target. The stock has “Neutral” rating given by Wedbush on Thursday, October 6. Barclays Capital initiated the stock with “Overweight” rating in Thursday, December 10 report. JMP Securities maintained it with “Market Outperform” rating and $16.50 target price in Wednesday, March 9 report. The stock has “Buy” rating given by Compass Point on Monday, July 27.

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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