Wedbush disclosed PennyMac Mortgage (NYSE:PMT), hiking its price target to $16.75 earlier today
- Updated: October 8, 2016
Indicating a possible upside of 0.15%, Wedbush increased the stock price target of PennyMac Mortgage (NYSE:PMT) to $16.75
Only yesterday PennyMac Mortgage (NYSE:PMT) traded 0.28% higher at $14.51. The company’s 50-day moving average is $15.17 and its 200-day moving average is $15.03. The last stock close price is down -4.24% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same time. 637,984 shares of PMT traded hands, up from an average trading volume of 537,598
Recent Performance Chart
PennyMac Mortgage has PE ratio of 16.67 with a one year low of $10.91 and a one year high of $16.93 and has a market capitalization of $0.
General Company Details For PennyMac Mortgage (NYSE:PMT)
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. It operates through two segments: correspondent production and investment activities. The correspondent production segment represents its 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 its 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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