Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Kyle Bass, Hayman Advisors Are Bullish on PennyMac Mortgage Investment

Kyle Bass, Hayman Advisors: PennyMac Mortgage Investment Trust (NYSE:PMT) has recently been added to the equity portfolio of Hayman Advisors, which currently holds 5.1% of the company. Kyle Bass’ fund owns almost 3.6 million shares worth, which at the current price of PennyMac’s stock, are worth $80.4 million.

Kyle Bass

PennyMac Mortgage Investment Trust is a finance company with an investment focus on residential mortgage loans and mortgage-related assets. The company declared a net income of $54.5 million, equal to $0.86 per diluted share for the second quarter of the year, versus $29.6 million reported for the same period of last year. Last month, PennyMac announced an underwritten public offering of 11.3 million shares, the proceeds from which were intended for financing its business and investing activities, the company said in a statement.

Aside from Hayman Advisors, some other hedge funds also disclosed significant stakes in PennyMac last quarter. As follows, Glenn Russell Dubin’s Highbridge Capital Management owned 2.1 million shares. Millennium Management, managed by Israel Englander, disclosed ownership of 870,200 shares in the latest round of 13F filings, while Long Pond Capital, managed by John Khoury held 625,700 shares.

Recommended Reading:

5 Quotes That Sound Like Warren Buffett

Following Icahn Into Nuance Could Reward Investors

Glenn Greenberg, Brave Warrior Capital Reduce Higher One Stake

Disclosure: none

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.