BlueCrest Capital Management Ltd grew its holdings in PennantPark Investment Corp. (NASDAQ:PNNT) by 615.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,582 shares of the asset manager’s stock after purchasing an additional 79,644 shares during the period. BlueCrest Capital Management Ltd owned about 0.13% of PennantPark Investment worth $640,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Burgundy Asset Management Ltd. increased its holdings in shares of PennantPark Investment by 13.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,338,409 shares of the asset manager’s stock worth $16,158,000 after purchasing an additional 274,029 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PennantPark Investment by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,866,419 shares of the asset manager’s stock worth $14,016,000 after acquiring an additional 115,209 shares during the period. West Family Investments Inc. grew its holdings in shares of PennantPark Investment by 11.6% in the fourth quarter. West Family Investments Inc. now owns 959,457 shares of the asset manager’s stock worth $6,627,000 after acquiring an additional 100,000 shares during the period. Ares Management LLC grew its holdings in shares of PennantPark Investment by 5.7% in the fourth quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock worth $5,918,000 after acquiring an additional 46,000 shares during the period. Finally, Relative Value Partners Group LLC grew its holdings in shares of PennantPark Investment by 72.0% in the third quarter. Relative Value Partners Group LLC now owns 539,102 shares of the asset manager’s stock worth $4,049,000 after acquiring an additional 225,618 shares during the period. 42.90% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Arthur H. Penn purchased 10,000 shares of the business’s stock in a transaction on 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 acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at approximately $1,342,265.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
Shares of PennantPark Investment Corp. (PNNT) opened at $7.03 on Friday. PennantPark Investment Corp. has a fifty-two week low of $6.29 and a fifty-two week high of $8.20. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $483.21, a PE ratio of 8.72, a price-to-earnings-growth ratio of 4.58 and a beta of 1.13.
PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The business had revenue of $28.67 million during the quarter, compared to analyst estimates of $28.12 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. PennantPark Investment’s revenue for the quarter was down 10.0% on a year-over-year basis. equities research analysts expect that PennantPark Investment Corp. will post 0.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Friday, March 16th. PennantPark Investment’s dividend payout ratio is presently 102.86%.
Several analysts recently commented on the company. ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday. BidaskClub raised PennantPark Investment from a “strong sell” rating to a “sell” rating in a report on Saturday, February 10th. Zacks Investment Research raised PennantPark Investment from a “strong sell” rating to a “hold” rating in a report on Saturday, February 3rd. Ladenburg Thalmann Financial Services raised PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, February 9th. Finally, TheStreet lowered PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $8.30.
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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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