PennyMac Financial Services Inc (PFSI) Hedge Funds Are Snapping Up

As aggregate interest increased, key money managers have been driving this bullishness. Millennium Management assembled the largest position in PennyMac Financial Services Inc (NYSE:PFSI). Millennium Management had $0.3 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also made a $0.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as PennyMac Financial Services Inc (NYSE:PFSI) but similarly valued. We will take a look at AV Homes Inc (NASDAQ:AVHI), Steel Partners Holdings LP (NYSE:SPLP), Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), and Heska Corp (NASDAQ:HSKA). This group of stocks’ market values are similar to PFSI’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $111 million in PFSI’s case. Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is the most popular stock in this table. On the other hand AV Homes Inc (NASDAQ:AVHI) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks PennyMac Financial Services Inc (NYSE:PFSI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None