Revenue Update on PennyMac Mortgage Investment Trust(NYSE:PMT)

PennyMac Mortgage Investment Trust(NYSE:PMT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $47.62M. Analysts estimated a revenue of $30.22M. Earnings per share were $-0.08.

In a different note, On Jul 25, 2016, Barclays said it Maintains its rating on PennyMac Mortgage Investment Trust. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 13, 2016, Keefe Bruyette & Woods said it Maintains its rating on PennyMac Mortgage Investment Trust. In the research note, the firm Raises the price-target to $17.00 per share. The shares have been rated ‘Outperform’ by the firm.

PennyMac Mortgage Investment Trust (PMT) shares turned negative on Fridays trading session with the shares closing down -0.1 points or -0.65% at a volume of 2,91,001. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.48. The peak price level was also seen at $15.48 while the days lowest was $15.26. Finally the shares closed at $15.28. The 52-week high of the shares is $16.93 while the 52-week low is $10.91. According to the latest information available, the market cap of the company is $1,034 M.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, Jeffrey Grogin (CALO and Secretary) sold 12,694 shares at $16.23 per share price.Also, On Jun 6, 2016, Gregory L Hendry (Chief Accounting Officer) sold 525 shares at $15.71 per share price.On Jun 6, 2016, Stacey D. Stewart (director) sold 647 shares at $15.71 per share price, according to the Form-4 filing with the securities and exchange commission.

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations and makes all of its investments through PennyMac Operating Partnership L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Company’s operations 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 and PennyMac Loan Services LLC. The investment activities segment represents the Company’s investments in mortgage-related assets which include distressed mortgage loans real estate acquired in settlement of loans MBS mortgage servicing rights and excess servicing spread.

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