Figma Shares Indicated To Open $105/$110
Doug Jones, Director, President, and Chief Mortgage Banking Officer of PennyMac Mortgage Investment Trust (NYSE:PMT), recently sold 14,530 common shares of beneficial interest. The transaction, which took place on March 5, 2025, was executed at a weighted average price of $14.50 per share, totaling approximately $210,685. The sale comes as PMT trades near its 52-week high of $15.22, with the stock currently valued at $14.76. According to InvestingPro analysis, the company appears slightly overvalued at current levels.
Following this sale, Jones retains ownership of 64,082 shares, comprising 50,071 restricted share units and 14,011 common shares of beneficial interest. The restricted share units are set to be converted into an equal number of common shares upon vesting.
This transaction was filed with the Securities and Exchange Commission on March 7, 2025.
In other recent news, PennyMac Mortgage Investment Trust reported a strong performance for the fourth quarter of 2024, surpassing analyst expectations. The company achieved earnings per share of $0.41, exceeding the forecasted $0.36, and generated revenue of $107.93 million, which was above the anticipated $97.8 million. Additionally, PennyMac declared a dividend of $0.40 per share for the quarter. In a separate development, PennyMac successfully closed a public offering of $172.5 million in senior notes due 2030, with an annual interest rate of 9.00%. The notes are set to mature on February 15, 2030, and were issued under an underwriting agreement with Morgan Stanley (NYSE:MS) & Co. LLC and Goldman Sachs & Co. LLC, among others. The company also emphasized its focus on securitization and debt management strategies moving forward. These recent developments highlight PennyMac’s robust financial performance and strategic initiatives.
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