Edge Wealth Management Lowers stake in PennyMac Mortgage Investment Trust (PMT)

PennyMac Mortgage Investment Trust (PMT) : Edge Wealth Management reduced its stake in PennyMac Mortgage Investment Trust by 21.57% during the most recent quarter end. The investment management company now holds a total of 30,840 shares of PennyMac Mortgage Investment Trust which is valued at $460,133 after selling 8,484 shares in PennyMac Mortgage Investment Trust , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.PennyMac Mortgage Investment Trust makes up approximately 0.19% of Edge Wealth Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in PMT in the latest quarter, The investment management firm added 2,036 additional shares and now holds a total of 4,297 shares of PennyMac Mortgage Investment Trust which is valued at $64,111.Legal General Group Plc boosted its stake in PMT in the latest quarter, The investment management firm added 21,641 additional shares and now holds a total of 88,132 shares of PennyMac Mortgage Investment Trust which is valued at $1,306,116. Cutler Group Lp sold out all of its stake in PMT during the most recent quarter. The investment firm sold 513 shares of PMT which is valued $7,531.First Mercantile Trust Co reduced its stake in PMT by selling 4,427 shares or 13.69% in the most recent quarter. The Hedge Fund company now holds 27,900 shares of PMT which is valued at $401,481. PennyMac Mortgage Investment Trust makes up approx 0.05% of First Mercantile Trust Co’s portfolio. Simplex Trading added PMT to its portfolio by purchasing 567 company shares during the most recent quarter which is valued at $8,159.

PennyMac Mortgage Investment Trust opened for trading at $14.7 and hit $14.85 on the upside on Tuesday, eventually ending the session at $14.82, with a gain of 0.95% or 0.14 points. The heightened volatility saw the trading volume jump to 5,46,368 shares. Company has a market cap of $1,003 M.

On the company’s financial health, PennyMac Mortgage Investment Trust reported $0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.30 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.38. The company had revenue of $47.60 million for the quarter, 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.

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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