ValuEngine downgraded shares of PennantPark Investment (NASDAQ:PNNT) from a strong-buy rating to a buy rating in a research report released on Saturday, March 17th.
Other research analysts also recently issued research reports about the stock. Ladenburg Thalmann upgraded shares of PennantPark Investment from a neutral rating to a buy rating and set a $8.00 price objective for the company in a research report on Friday, February 9th. TheStreet cut shares of PennantPark Investment from a b- rating to a c rating in a research note on Wednesday, December 13th. Zacks Investment Research raised shares of PennantPark Investment from a strong sell rating to a hold rating in a research note on Saturday, February 3rd. Finally, BidaskClub raised shares of PennantPark Investment from a strong sell rating to a sell rating in a research note on Saturday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $8.21.
Shares of PennantPark Investment stock traded up $0.02 during trading hours on Friday, reaching $6.87. The stock had a trading volume of 346,554 shares, compared to its average volume of 334,598. The company has a market cap of $481.08, a P/E ratio of 8.70, a price-to-earnings-growth ratio of 4.54 and a beta of 1.13. PennantPark Investment has a twelve month low of $6.29 and a twelve month high of $8.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.03 and a current ratio of 3.03.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $28.67 million during the quarter, compared to the consensus estimate of $28.12 million. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 earnings per share. equities research analysts forecast that PennantPark Investment will post 0.75 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 19th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.48%. PennantPark Investment’s dividend payout ratio is currently 91.14%.
In related news, Chairman Arthur H. Penn bought 10,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $6.94 per share, with a total value of $69,400.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,342,265.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Garner Asset Management Corp grew its stake in PennantPark Investment by 10.7% during the 4th quarter. Garner Asset Management Corp now owns 81,477 shares of the asset manager’s stock valued at $563,000 after acquiring an additional 7,879 shares in the last quarter. Global X MANAGEMENT CO LLC grew its stake in PennantPark Investment by 49.0% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 8,165 shares in the last quarter. Mckinley Capital Management LLC Delaware grew its stake in PennantPark Investment by 3.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 271,788 shares of the asset manager’s stock valued at $2,041,000 after acquiring an additional 8,751 shares in the last quarter. California Public Employees Retirement System grew its stake in PennantPark Investment by 29.6% during the 3rd quarter. California Public Employees Retirement System now owns 54,700 shares of the asset manager’s stock valued at $411,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Sterneck Capital Management LLC grew its stake in PennantPark Investment by 8.2% during the 4th quarter. Sterneck Capital Management LLC now owns 170,794 shares of the asset manager’s stock valued at $1,180,000 after acquiring an additional 12,984 shares in the last quarter. 42.90% of the stock is owned by institutional investors.
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PennantPark Investment Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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