Omega Advisors' founder Lee Cooperman has filed a 13G on shares of PennyMac Mortgage Investment Trust (PMT). Per the filing, Cooperman now owns 5.17% of the company with over 3.86 million shares.
This is up from the 2.6 million shares Cooperman owned as of the end of the second quarter. The new filing was made due to activity on September 4th.
For more from Omega, head to Steve Einhorn's interview on Wall Street Week.
Per Google Finance, Pennymac Mortgage is "a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Company’s operations aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing, pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS), using the services of PNMAC Capital Management and PennyMac Loan Services, LLC. The investment activities segment represents the Company’s investments in mortgage-related assets, which include distressed mortgage loans, real estate acquired in settlement of loans, MBS, mortgage servicing rights and excess servicing spread.."
Monday, September 14, 2015
Lee Cooperman Boosts PennyMac Mortgage Investment Trust Stake
Monday, September 30, 2013
Kyle Bass' Hayman Capital Discloses PennyMac Mortgage Investment Trust Stake
Kyle Bass' hedge fund firm Hayman Capital has filed a 13G on shares of PennyMac Mortgage Investment Trust (PMT). Per the filing, Hayman has disclosed a 5.1% ownership stake in with 3,570,000 shares.
The filing was required due to activity on September 27th and marks a new disclosure. Earlier this summer, we noted that Omega Advisors and Bridger Capital took stakes in PennyMac Financial Services, the company whose subsidiary manages PennyMac Mortgage Investment Trust.
Per Google Finance, PennyMac Mortgage Investment Trust is "a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company is a real estate investment trust (REIT). The Company operates in two segments: investment activities and correspondent lending. The correspondent lending segment focuses on the purchase for resale of newly originated mortgage loans. The investment activities segment focuses on mortgage assets that are acquired and held for investment purposes. The Company’s primary investment objective is to maximize the value of the mortgage loans that it acquires, a substantial portion of which may be distressed and acquired at discounts to their unpaid principal balances, either through loan modification programs, special servicing and other initiatives focused on keeping borrowers in their homes, or, when necessary, through timely acquisition and liquidation of the property securing the loan."
For more on Hayman, we recently posted up Kyle Bass' macro discussion at the Alpha Hedge West conference.
Monday, May 20, 2013
Omega Advisors and Bridger Capital Disclose Stakes in PennyMac Financial Services
Two hedge funds filed disclosures with the SEC today regarding shares of recently public PennyMac Financial Services (PFSI).
Omega Advisors' PFSI Stake
Lee Cooperman's hedge fund Omega Advisors filed a 13D with the SEC on PennyMac Financial Services (PFSI) revealing they own 21.6% of the company with 2,759,600 shares.
Omega purchased PFSI at $18 per share in the company's initial public offering on May 9th. Cooperman's firm also picked up a few extra shares on May 14th at $19.71 for some of their managed accounts.
For more from this hedge fund, Lee Cooperman recently shared his market thoughts at the Skybridge Alternatives Conference (SALT).
Bridger Capital's Position in PFSI
Roberto Mignone's hedge fund Bridger Capital also filed a 13G with the SEC and disclosed a 13.5% ownership stake in the company with 1,500,000 shares due to activity on May 9th as well.
About PennyMac Financial Services
PennyMac Financial Services recently went public and is the parent firm to publicly traded subsidiary PennyMac Mortgage Investment Trust (PMT).
Per Google Finance, PennyMac Financial Services, Inc. is "a specialty financial services firm with a mortgage platform and integrated business focused on the production and servicing of United States residential mortgage loans and the management of investments related to the United States residential mortgage market. The Company operates in two segments: mortgage banking and investment management. Its principal mortgage banking subsidiary, PennyMac Loan Services, LLC (PLS), is a non-bank producer and servicer of mortgage loans in the United States. PLS is a seller/servicer for the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac), each of which is a government-sponsored entity (GSE). The Company’s principal investment management subsidiary, PNMAC Capital Management, LLC (PCM), is an investment adviser. It manages PennyMac Mortgage Investment Trust (PMT), a mortgage real estate investment trust (REIT)."
