PennantPark Investment Co. (PNNT) To Go Ex-Dividend on August 14th

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.04 per share by the asset manager on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Friday, August 14th.

PennantPark Investment has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. PennantPark Investment has a dividend payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $3.77 on Wednesday. PennantPark Investment has a one year low of $3.19 and a one year high of $7.53. The stock has a market capitalization of $245.84 million, a price-to-earnings ratio of 14.48 and a beta of 0.59. The company has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $4.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47.

Hedge Funds Weigh In On PennantPark Investment

Several hedge funds have recently bought and sold shares of PNNT. EverSource Wealth Advisors LLC boosted its stake in shares of PennantPark Investment by 100.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,695 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 1,853 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of PennantPark Investment during the 3rd quarter worth about $32,000. Advisory Services Network LLC acquired a new position in shares of PennantPark Investment in the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd raised its position in shares of PennantPark Investment by 127,180.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,364 shares of the asset manager’s stock valued at $38,000 after buying an additional 6,359 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of PennantPark Investment during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.