PennantPark Investment (NASDAQ:PNNT) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.
Other equities analysts have also recently issued reports about the stock. Compass Point cut shares of Realogy from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $12.50 to $8.00 in a research report on Friday, May 3rd. LADENBURG THALM/SH SH lowered shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Monday, May 13th. Raymond James started coverage on shares of PennantPark Investment in a report on Monday, April 29th. They set an “outperform” rating and a $8.00 price objective on the stock. BidaskClub upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.60.
Shares of PNNT stock opened at $6.59 on Tuesday. PennantPark Investment has a 52-week low of $6.21 and a 52-week high of $7.84. The company has a market capitalization of $444.51 million, a PE ratio of 8.79 and a beta of 1.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.13. The firm has a 50 day simple moving average of $6.39.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Thursday, May 9th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). PennantPark Investment had a net margin of 28.97% and a return on equity of 7.94%. The business had revenue of $28.69 million during the quarter, compared to the consensus estimate of $28.89 million. As a group, analysts forecast that PennantPark Investment will post 0.75 EPS for the current year.
In other news, Chairman Arthur H. Penn acquired 16,000 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $6.52 per share, for a total transaction of $104,320.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,261,033.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Arthur H. Penn acquired 15,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $6.58 per share, for a total transaction of $98,700.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at $1,272,637.80. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in PNNT. LPL Financial LLC increased its stake in shares of PennantPark Investment by 5.4% during the 4th 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 last quarter. Advisor Group Inc. increased its stake in shares of PennantPark Investment by 423.8% during the 4th quarter. Advisor Group Inc. now owns 43,901 shares of the asset manager’s stock worth $280,000 after purchasing an additional 35,520 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of PennantPark Investment by 13.3% during the 4th 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 last quarter. Stifel Financial Corp increased its stake in shares of PennantPark Investment by 4.9% during the 4th quarter. Stifel Financial Corp now owns 32,300 shares of the asset manager’s stock worth $207,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of PennantPark Investment during the 4th quarter worth about $71,000. Institutional investors own 43.97% of the company’s stock.
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.
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