Stifel Financial Corp Increases Stake in PennantPark Investment Corp. (PNNT)

Stifel Financial Corp grew its holdings in PennantPark Investment Corp. (NASDAQ:PNNT) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,300 shares of the asset manager’s stock after buying an additional 1,500 shares during the quarter. Stifel Financial Corp’s holdings in PennantPark Investment were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its position in PennantPark Investment by 13.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 20,898 shares of the asset manager’s stock worth $129,000 after purchasing an additional 2,459 shares during the period. Belpointe Asset Management LLC increased its position in PennantPark Investment by 14.9% in the third quarter. Belpointe Asset Management LLC now owns 28,288 shares of the asset manager’s stock worth $211,000 after purchasing an additional 3,678 shares during the period. GSA Capital Partners LLP increased its position in PennantPark Investment by 5.8% in the fourth quarter. GSA Capital Partners LLP now owns 77,154 shares of the asset manager’s stock worth $491,000 after purchasing an additional 4,205 shares during the period. LPL Financial LLC increased its position in PennantPark Investment by 5.4% in the fourth quarter. LPL Financial LLC now owns 92,217 shares of the asset manager’s stock worth $587,000 after purchasing an additional 4,711 shares during the period. Finally, Legal & General Group Plc increased its position in PennantPark Investment by 2.1% in the third quarter. Legal & General Group Plc now owns 276,070 shares of the asset manager’s stock worth $2,061,000 after purchasing an additional 5,572 shares during the period. Hedge funds and other institutional investors own 44.19% of the company’s stock.

A number of brokerages recently commented on PNNT. Zacks Investment Research lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. BidaskClub upgraded PennantPark Investment from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, JPMorgan Chase & Co. lowered PennantPark Investment from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.50 to $7.00 in a research report on Wednesday, January 16th. Five equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $7.67.

PennantPark Investment stock opened at $7.05 on Friday. The stock has a market cap of $479.60 million, a PE ratio of 9.53 and a beta of 1.22. PennantPark Investment Corp. has a 1 year low of $6.21 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.70 and a quick ratio of 0.70.

PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Thursday, February 7th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The company had revenue of $27.38 million for the quarter, compared to analyst estimates of $28.38 million. PennantPark Investment had a return on equity of 8.21% and a net margin of 39.44%. Equities analysts forecast that PennantPark Investment Corp. will post 0.76 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Wednesday, March 20th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 10.21%. PennantPark Investment’s payout ratio is currently 96.00%.

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PennantPark Investment Company Profile

PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for PennantPark Investment (NASDAQ:PNNT)

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