Why Leon Cooperman’s Cooperman Leon G Reported Pennymac Financial Services, Inc Position?

February 15, 2018 - By Marguerite Chambers

 Why Leon Cooperman's Cooperman Leon G Reported Pennymac Financial Services, Inc Position?

Investors sentiment decreased to 1.06 in Q3 2017. Its down 0.26, from 1.32 in 2017Q2. It dived, as 13 investors sold PennyMac Financial Services, Inc. shares while 22 reduced holdings. 12 funds opened positions while 25 raised stakes. 21.18 million shares or 4.21% more from 20.32 million shares in 2017Q2 were reported.

Boston Prtnrs reported 0.01% of its portfolio in PennyMac Financial Services, Inc. (NYSE:PFSI). Aperio Grp Limited Liability Com stated it has 21,662 shares or 0% of all its holdings. Indexiq Advisors Lc has invested 0.04% in PennyMac Financial Services, Inc. (NYSE:PFSI). Rhumbline Advisers has 18,357 shares. 10,699 were accumulated by Brandywine Inv Management Limited Liability Corp. Morgan Stanley has invested 0% in PennyMac Financial Services, Inc. (NYSE:PFSI). Livforsakringsbolaget Skandia Omsesidigt invested 0.01% in PennyMac Financial Services, Inc. (NYSE:PFSI). Bnp Paribas Arbitrage Sa reported 3,343 shares stake. Wespac Limited Liability Corp holds 0.6% of its portfolio in PennyMac Financial Services, Inc. (NYSE:PFSI) for 51,422 shares. Vanguard Grp Inc has 1.67M shares. Alliancebernstein L P stated it has 0% of its portfolio in PennyMac Financial Services, Inc. (NYSE:PFSI). Omega Advsr invested in 1.12% or 1.62 million shares. Strs Ohio has invested 0% in PennyMac Financial Services, Inc. (NYSE:PFSI). Wells Fargo And Co Mn invested 0% in PennyMac Financial Services, Inc. (NYSE:PFSI). Jpmorgan Chase And Co stated it has 0% of its portfolio in PennyMac Financial Services, Inc. (NYSE:PFSI).

Since August 23, 2017, it had 0 insider purchases, and 39 insider sales for $7.31 million activity. Jones Doug also sold $330,179 worth of PennyMac Financial Services, Inc. (NYSE:PFSI) shares. Grogin Jeffrey sold $150,800 worth of stock or 9,000 shares. Shares for $170,488 were sold by Walker David M on Wednesday, August 23. 10,000 shares were sold by Botein Matthew, worth $227,070. Perotti Daniel Stanley sold $125,166 worth of stock. KURLAND STANFORD L sold $198,216 worth of stock or 11,012 shares.

The New Leon Cooperman’s Cooperman Leon G Holding in Pennymac Financial Services, Inc

Cooperman Leon G reported SC 13G/A form with the SEC for Pennymac Financial Services, Inc. Access it here: 000094366318000075. As reported by Leon Cooperman’s Cooperman Leon G, the filler owns 6.79% or 1,581,975 shares of the Finance–company.

Pennymac Financial Services, Inc stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Leon Cooperman’s Cooperman Leon G’s positive view for Pennymac Financial Services, Inc. For a hedge fund managing $12.65 billion in assets and having 38+ experts this is interesting position.

The hedge fund is investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Leon Cooperman’s Cooperman Leon G’s portfolio is in the sector.

Pennymac Financial Services, Inc Institutional Sentiment

Filings show 78 investors own Pennymac Financial Services, Inc. The ownership in Q3 2015 is high, at 81.74 % of the outstanding shares. This is increased by 691944. 19234130 were owned by these investors. 11 funds opened new Pennymac Financial Services, Inc stakes, 21 increased positions. There were 13 that closed positions and 24 reduced them.

Roberto Mignone Bridger Management Llc is an investor bullish on Pennymac Financial Services, Inc, owning 1776073 shares as of Q3 2015 for 1.94% of its portfolio. Three Corner Global Investors Lp owns 232114 shares or 1.35% of its portfolio. CA Philadelphia Financial Management Of San Francisco Llc have 3.09% of its portfolio for 904565 shares. Further, Greenwich Investment Management Inc reported stake worth 1.58% of its portfolio. The NY Seven Locks Capital Management Lp owns 1013440 shares. Pennymac Financial Services, Inc is 5.25% of its portfolio.

Business Profile

PennyMac Financial Services, Inc. (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management. PFSI’s mortgage banking subsidiary, PennyMac Loan Services, LLC (PLS), is a non-bank producer and servicer of mortgage loans in the United States. As of December 31, 2016, PLS serviced loans in all 50 states, the District of Columbia, Guam and the United States Virgin Islands, and originated loans in 49 states and the District of Columbia. PFSI’s investment management subsidiary, PNMAC Capital Management, LLC (PCM), is an investment advisor. PLS is a seller and servicer for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

SEC Form 13G.

Leon Cooperman’s Cooperman Leon G website.

The stock increased 2.39% or $0.55 during the last trading session, reaching $23.6. About 1.06 million shares traded or 335.30% up from the average. PennyMac Financial Services, Inc. (NYSE:PFSI) has risen 22.47% since February 15, 2017 and is uptrending. It has outperformed by 5.77% the S&P500.

PennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company has market cap of $1.82 billion. It operates through three divisions: Loan Production, Loan Servicing, and Investment Management. It has a 5.86 P/E ratio. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

PennyMac Financial Services, Inc. (NYSE:PFSI) Ratings Coverage

Among 10 analysts covering PennyMac Financial Services (NYSE:PFSI), 4 have Buy rating, 1 Sell and 5 Hold. Therefore 40% are positive. PennyMac Financial Services has $31.0 highest and $14 lowest target. $20.75’s average target is -12.08% below currents $23.6 stock price. PennyMac Financial Services had 28 analyst reports since December 10, 2015 according to SRatingsIntel. The rating was downgraded by JMP Securities to “Mkt Perform” on Wednesday, February 8. Keefe Bruyette & Woods maintained it with “Buy” rating and $24.0 target in Thursday, December 21 report. The stock has “Neutral” rating by Goldman Sachs on Wednesday, January 13. Keefe Bruyette & Woods maintained it with “Buy” rating and $20.0 target in Thursday, September 28 report. The rating was downgraded by Bank of America on Thursday, December 15 to “Underperform”. The firm has “Buy” rating given on Wednesday, October 26 by Nomura. Keefe Bruyette & Woods maintained it with “Hold” rating and $25.0 target in Friday, February 9 report. The company was downgraded on Monday, January 8 by Keefe Bruyette & Woods. The rating was reinitiated by Piper Jaffray on Friday, September 9 with “Overweight”. The company was maintained on Sunday, September 17 by Piper Jaffray.

More notable recent PennyMac Financial Services, Inc. (NYSE:PFSI) news were published by: Businesswire.com which released: “PennyMac Financial Services, Inc. Announces Pricing of Term Notes Secured by …” on February 15, 2017, also Businesswire.com with their article: “PennyMac Financial Services, Inc. Reports First Quarter 2017 Results” published on May 04, 2017, Seekingalpha.com published: “PennyMac Financial Services’ (PFSI) CEO David Spector on Q3 2017 Results …” on November 04, 2017. More interesting news about PennyMac Financial Services, Inc. (NYSE:PFSI) were released by: Businesswire.com and their article: “PennyMac Financial Services, Inc. Announces Ted Tozer Is Joining Its Board of …” published on July 19, 2017 as well as Seekingalpha.com‘s news article titled: “PennyMac Financial Services’ (PFSI) CEO David Spector on Q1 2017 Results …” with publication date: May 07, 2017.

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