PMT PennyMac Mortgage Investment Trust

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q3 2024: $0M, Q2 2024: $19M, Q1 2024: $8M, Q3 2023: $13M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $14M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $41M / FCF $243M = 17% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,000,000 shares = 4.6% of 87,016,604 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

6 open-market purchases by 2 insiders

• Lynch Catherine A. () bought 766 shares at $13.20 on 2026-01-23
• Lynch Catherine A. () bought 685 shares at $13.28 on 2026-01-23
• SPECTOR DAVID (Chairman and CEO) bought 10,000 shares at $12.40 on 2025-11-17
• Lynch Catherine A. () bought 774 shares at $12.67 on 2025-10-24
• Lynch Catherine A. () bought 696 shares at $12.67 on 2025-10-24
• Lynch Catherine A. () bought 2,823 shares at $12.02 on 2025-09-22

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters and 6 insider purchases by 2 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected