Hedge Funds Aren’t Crazy About PennyMac Mortgage Investment Trust (PMT) Anymore

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These stocks are Flagstar Bancorp Inc (NYSE:FBC), NIC Inc. (NASDAQ:EGOV), Smart & Final Stores Inc (NYSE:SFS), and New Gold Inc. (USA) (NYSEAMEX:NGD). This group of stocks’ market values are closest to PMT’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FBC 17 65915 6
EGOV 15 52849 3
SFS 11 145311 -2
NGD 11 61004 -5

As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $81 million. That figure was $131 million in PMT’s case. Flagstar Bancorp Inc (NYSE:FBC) is the most popular stock in this table. On the other hand Smart & Final Stores Inc (NYSE:SFS) is the least popular one with only 11 bullish hedge fund positions. PennyMac Mortgage Investment Trust (NYSE:PMT) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard FBC might be a better candidate to consider a long position.

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