EMC Capital Management Has $91,000 Stock Position in PennantPark Investment Co. $PNNT

EMC Capital Management reduced its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 58.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,321 shares of the asset manager’s stock after selling 18,468 shares during the period. EMC Capital Management’s holdings in PennantPark Investment were worth $91,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kovack Advisors Inc. lifted its position in shares of PennantPark Investment by 15.8% in the first quarter. Kovack Advisors Inc. now owns 66,050 shares of the asset manager’s stock worth $464,000 after purchasing an additional 9,000 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in PennantPark Investment by 32.1% in the 1st quarter. Atria Wealth Solutions Inc. now owns 25,541 shares of the asset manager’s stock valued at $182,000 after buying an additional 6,206 shares during the period. Founders Financial Alliance LLC lifted its position in PennantPark Investment by 8.3% in the 1st quarter. Founders Financial Alliance LLC now owns 63,494 shares of the asset manager’s stock worth $446,000 after buying an additional 4,852 shares in the last quarter. Condor Capital Management boosted its stake in shares of PennantPark Investment by 4.4% during the 1st quarter. Condor Capital Management now owns 206,171 shares of the asset manager’s stock valued at $1,449,000 after buying an additional 8,738 shares during the period. Finally, Ethos Financial Group LLC purchased a new position in shares of PennantPark Investment during the 1st quarter valued at $198,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Trading Down 1.0%

PennantPark Investment stock opened at $6.22 on Thursday. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $7.53. The firm has a market capitalization of $405.81 million, a PE ratio of 23.90 and a beta of 0.97. The business’s 50-day simple moving average is $6.58 and its 200-day simple moving average is $6.84. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47.

PennantPark Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 15.4%. The ex-dividend date is Monday, November 17th. PennantPark Investment’s payout ratio is currently 457.14%.

Analyst Ratings Changes

PNNT has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $6.25 price objective (down previously from $6.50) on shares of PennantPark Investment in a research report on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price target on PennantPark Investment from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.17.

PennantPark Investment Company 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.