Shares of PennantPark Investment Corp. (NASDAQ:PNNT) have earned an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.33.
Several research firms have recently commented on PNNT. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. ValuEngine raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub cut shares of PennantPark Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, October 4th. Finally, TheStreet cut shares of PennantPark Investment from a “b-” rating to a “c” rating in a research note on Tuesday, July 16th.
Shares of PNNT traded up $0.04 during mid-day trading on Monday, hitting $6.22. 302,200 shares of the company traded hands, compared to its average volume of 289,498. PennantPark Investment has a one year low of $6.04 and a one year high of $7.40. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $6.20 and a 200 day moving average of $6.47. The stock has a market capitalization of $413.67 million, a price-to-earnings ratio of 8.29 and a beta of 1.13.
PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). PennantPark Investment had a net margin of 18.01% and a return on equity of 8.08%. The company had revenue of $28.11 million for the quarter, compared to the consensus estimate of $29.38 million. As a group, analysts anticipate that PennantPark Investment will post 0.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.72 dividend on an annualized basis and a yield of 11.58%. PennantPark Investment’s payout ratio is presently 96.00%.
In other PennantPark Investment news, Chairman Arthur H. Penn acquired 15,000 shares of PennantPark Investment stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $6.30 per share, with a total value of $94,500.00. Following the completion of the purchase, the chairman now owns 193,410 shares in the company, valued at $1,218,483. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders acquired 45,000 shares of company stock worth $285,600. Insiders own 2.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Confluence Investment Management LLC boosted its stake in PennantPark Investment by 0.3% in the third quarter. Confluence Investment Management LLC now owns 913,707 shares of the asset manager’s stock valued at $5,729,000 after acquiring an additional 2,538 shares during the last quarter. LPL Financial LLC raised its holdings in PennantPark Investment by 3.5% in the second quarter. LPL Financial LLC now owns 102,299 shares of the asset manager’s stock worth $647,000 after purchasing an additional 3,483 shares during the period. Quantamental Technologies LLC raised its holdings in PennantPark Investment by 2,255.0% in the second quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock worth $25,000 after purchasing an additional 3,811 shares during the period. Aperio Group LLC raised its holdings in PennantPark Investment by 6.0% in the second quarter. Aperio Group LLC now owns 82,992 shares of the asset manager’s stock worth $525,000 after purchasing an additional 4,665 shares during the period. Finally, M&T Bank Corp raised its holdings in PennantPark Investment by 14.3% in the second quarter. M&T Bank Corp now owns 39,422 shares of the asset manager’s stock worth $249,000 after purchasing an additional 4,936 shares during the period. 43.21% of the stock is currently owned by hedge funds and other institutional investors.
PennantPark Investment Company Profile
PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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