Advisors Asset Management Inc. Sells 55,079 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Advisors Asset Management Inc. decreased its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 588,308 shares of the asset manager’s stock after selling 55,079 shares during the quarter. Advisors Asset Management Inc. owned about 0.90% of PennantPark Investment worth $4,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNNT. Sanctuary Advisors LLC bought a new position in shares of PennantPark Investment during the 4th quarter worth about $71,000. Grimes & Company Inc. bought a new position in PennantPark Investment during the fourth quarter valued at about $443,000. Strategic Financial Concepts LLC acquired a new position in PennantPark Investment in the 4th quarter valued at approximately $115,000. Janney Montgomery Scott LLC lifted its position in shares of PennantPark Investment by 12.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager’s stock worth $927,000 after acquiring an additional 14,124 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of PennantPark Investment during the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

PennantPark Investment Stock Up 0.4 %

NASDAQ PNNT opened at $7.11 on Friday. PennantPark Investment Co. has a 1-year low of $6.43 and a 1-year high of $8.04. The company has a market capitalization of $463.93 million, a price-to-earnings ratio of 27.33 and a beta of 1.45. The stock’s 50 day moving average is $7.09 and its two-hundred day moving average is $7.00. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 13.51%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Investment’s dividend payout ratio (DPR) is 369.23%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Profile

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.