Seeking Alpha

PennyMac Mortgage launches secondary offering

  • PennyMac Mortgage Investment Trust (PMT) announces a 11.3M share secondary with greenshoe option of 1.695M. If the greenshoe is exercised, it would add 22% to the float.
  • Shares -2.8% AH.
  • Source: Press release.
Comments (2)
  • "The buyout comes at a time when Countrywide investors thought the stock couldn't get any cheaper [it dipped as low as $4.43 a share] this week. Countrywide hit its peak stock price of $43, Jan. 12, 2007."
    13 Aug 2013, 07:06 PM Reply Like
  • That comes from the referenced article written in 2008. Since most of the current income comes from distressed loans (i.e. foreclosure or potential foreclosures) I think caution should be exercised. Especially considering the recent unsealed file involving Lynn Szymoziak. But....that's just me.
    13 Aug 2013, 07:48 PM Reply Like
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