PennyMac Mortgage Investment Trust (PMT) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.08 earnings per share for the quarter, missing the analyst consensus estimate by $-0.30. Analysts had a consensus of $0.38. The company posted revenue of $47.60 million in the period, compared to analysts expectations of $67.85 million. The company’s revenue was down -31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.
Many Wall Street Analysts have commented on PennyMac Mortgage Investment Trust. PennyMac Mortgage Investment Trust was Downgraded by BofA/Merrill to ” Underperform” on Jul 12, 2016.
PennyMac Mortgage Investment Trust closed down -0.19 points or -1.15% at $16.27 with 3,04,228 shares getting traded on Tusday. Post opening the session at $16.46, the shares hit an intraday low of $16.24 and an intraday high of $16.55 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 27, 2016, Jeffrey Grogin (CALO and Secretary) sold 12,694 shares at $16.23 per share price. According to the SEC, 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 Companys 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 Companys 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.