Aperio Group LLC decreased its stake in PennantPark Investment Corp. (NASDAQ:PNNT) by 40.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 98,930 shares of the asset manager’s stock after selling 67,458 shares during the quarter. Aperio Group LLC’s holdings in PennantPark Investment were worth $693,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PNNT. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PennantPark Investment in the first quarter valued at about $118,000. Cullen Frost Bankers Inc. acquired a new position in PennantPark Investment during the first quarter worth about $122,000. Great West Life Assurance Co. Can acquired a new position in PennantPark Investment during the first quarter worth about $126,000. Eqis Capital Management Inc. acquired a new position in PennantPark Investment during the second quarter worth about $182,000. Finally, Jane Street Group LLC acquired a new position in PennantPark Investment during the first quarter worth about $261,000. Hedge funds and other institutional investors own 41.94% of the company’s stock.
Shares of PNNT opened at $7.79 on Friday. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.73. The stock has a market cap of $545.91 million, a price-to-earnings ratio of 9.87 and a beta of 1.20. PennantPark Investment Corp. has a 12-month low of $6.29 and a 12-month high of $7.82.
PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, August 8th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $24.76 million for the quarter, compared to analyst estimates of $26.13 million. PennantPark Investment had a return on equity of 8.12% and a net margin of 39.31%. research analysts anticipate that PennantPark Investment Corp. will post 0.74 earnings per share for the current year.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of PennantPark Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Keefe, Bruyette & Woods set a $8.00 target price on shares of PennantPark Investment and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Thursday, May 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.06.
PennantPark Investment 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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