PennantPark Investment Co. (NASDAQ:PNNT) Shares Set to Pay Monthly Dividend of $0.04

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Friday, October 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.04 per share by the asset manager on Monday, November 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 15.0%. The ex-dividend date of this dividend is Thursday, October 15th.

PennantPark Investment has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennantPark Investment has a payout ratio of 67.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NASDAQ PNNT opened at $3.19 on Tuesday. The stock’s fifty day moving average is $3.55 and its two-hundred day moving average is $3.81. The firm has a market capitalization of $208.62 million, a P/E ratio of 12.29 and a beta of 0.65. 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 has a fifty-two week low of $3.14 and a fifty-two week high of $6.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PNNT. Squarepoint Ops LLC purchased a new position in shares of PennantPark Investment during the 2nd quarter worth $172,000. Two Sigma Securities LLC boosted its position in shares of PennantPark Investment by 43.1% during the 2nd quarter. Two Sigma Securities LLC now owns 25,499 shares of the asset manager’s stock valued at $88,000 after acquiring an additional 7,685 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of PennantPark Investment in the second quarter valued at about $1,065,000. Legal & General Group Plc purchased a new stake in shares of PennantPark Investment in the second quarter valued at about $1,864,000. Finally, Group One Trading LLC purchased a new stake in shares of PennantPark Investment in the second quarter valued at about $78,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a business development company that provides financing to privately held, middle-market businesses. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Its investment portfolio primarily includes senior secured loans, second-lien loans, subordinated debt and equity investments. PennantPark Investment generally focuses on companies across a range of industries and uses its financing to support acquisitions, recapitalizations, growth initiatives and other corporate activities.

Founded in 2007, PennantPark Investment is externally managed by PennantPark Investment Advisers, an affiliate of PennantPark Investment Advisors.