NewEdge Wealth LLC Grows Stock Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

NewEdge Wealth LLC raised its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 286,789 shares of the asset manager’s stock after purchasing an additional 3,470 shares during the period. NewEdge Wealth LLC owned approximately 0.44% of PennantPark Investment worth $2,030,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in PennantPark Investment during the fourth quarter valued at about $71,000. Verition Fund Management LLC purchased a new stake in PennantPark Investment during the third quarter valued at about $74,000. Strategic Financial Concepts LLC purchased a new stake in PennantPark Investment during the fourth quarter valued at about $115,000. Quantbot Technologies LP purchased a new stake in PennantPark Investment during the third quarter valued at about $133,000. Finally, Paloma Partners Management Co purchased a new stake in PennantPark Investment during the third quarter valued at about $173,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

Analyst Ratings Changes

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

PennantPark Investment Stock Up 2.0 %

PNNT opened at $7.26 on Friday. The company has a market cap of $473.72 million, a P/E ratio of 27.90 and a beta of 1.47. The business’s 50-day moving average price is $7.09 and its 200-day moving average price is $6.99. 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 Co. has a 12 month low of $6.43 and a 12 month high of $8.04.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.96 annualized dividend and a dividend yield of 13.23%. PennantPark Investment’s dividend payout ratio is currently 369.23%.

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.