Stephens Inc. AR lowered its stake in shares of PennantPark Investment Corporation (NASDAQ:PNNT) by 31.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,413 shares of the asset manager’s stock after selling 7,551 shares during the quarter. Stephens Inc. AR’s holdings in PennantPark Investment were worth $123,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PNNT. Pinebridge Investments L.P. lifted its holdings in PennantPark Investment by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 169 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 8,165 shares during the last quarter. Stevens Capital Management LP purchased a new stake in PennantPark Investment during the third quarter valued at about $199,000. Stifel Financial Corp lifted its holdings in PennantPark Investment by 50.5% during the second quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 9,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in PennantPark Investment by 552.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,044 shares of the asset manager’s stock valued at $207,000 after purchasing an additional 23,747 shares during the last quarter. Institutional investors own 41.33% of the company’s stock.
Several equities research analysts have commented on the stock. BidaskClub raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co raised shares of PennantPark Investment from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $8.50 in a report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 price objective on shares of PennantPark Investment and gave the company a “hold” rating in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment in a report on Sunday, November 5th. Finally, Zacks Investment Research raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.08.
Shares of PennantPark Investment Corporation (NASDAQ:PNNT) opened at $7.54 on Friday. PennantPark Investment Corporation has a fifty-two week low of $6.98 and a fifty-two week high of $8.68. The stock has a market cap of $535.80, a PE ratio of 9.08, a PEG ratio of 4.91 and a beta of 1.30. The company has a debt-to-equity ratio of 0.84, a current ratio of 4.54 and a quick ratio of 4.54.
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About PennantPark Investment
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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