Denali Advisors LLC Has $731,000 Position in PennantPark Investment Co. (NASDAQ:PNNT)

Denali Advisors LLC lessened its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,220 shares of the asset manager’s stock after selling 11,113 shares during the period. Denali Advisors LLC owned approximately 0.16% of PennantPark Investment worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PNNT. Sanctuary Advisors LLC bought a new stake in PennantPark Investment during the fourth quarter worth $71,000. Verition Fund Management LLC acquired a new position in shares of PennantPark Investment during the 3rd quarter worth $74,000. Strategic Financial Concepts LLC bought a new stake in shares of PennantPark Investment during the 4th quarter worth $115,000. Quantbot Technologies LP acquired a new stake in PennantPark Investment in the third quarter valued at about $133,000. Finally, Paloma Partners Management Co bought a new position in PennantPark Investment in the third quarter valued at about $173,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

Analyst Upgrades and Downgrades

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

PennantPark Investment Stock Down 0.2 %

Shares of PNNT opened at $7.14 on Thursday. 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 Co. has a 52 week low of $6.43 and a 52 week high of $8.04. The stock has a market capitalization of $465.89 million, a price-to-earnings ratio of 27.44 and a beta of 1.47. The stock has a fifty day moving average of $7.08 and a 200-day moving average of $6.99.

PennantPark Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.45%. The ex-dividend date of this dividend is Tuesday, February 18th. PennantPark Investment’s payout ratio is 369.23%.

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.