PennantPark Investment (NASDAQ:PNNT) Trading Up 5.3%


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PennantPark Investment Co. (NASDAQ:PNNT)’s share price was up 5.3% during trading on Wednesday . The company traded as high as $5.00 and last traded at $5.00. Approximately 896,933 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 795,679 shares. The stock had previously closed at $4.75.

A number of equities analysts have recently commented on PNNT shares. BidaskClub raised PennantPark Investment from a “hold” rating to a “buy” rating in a report on Friday, January 1st. Zacks Investment Research lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, November 25th. Compass Point raised PennantPark Investment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $3.50 to $4.75 in a research note on Thursday, November 19th. Keefe, Bruyette & Woods raised PennantPark Investment from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $4.00 to $5.25 in a research note on Sunday, November 22nd. Finally, ValuEngine raised PennantPark Investment from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 1st. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. PennantPark Investment has an average rating of “Hold” and a consensus price target of $4.42.

The stock has a market cap of $335.23 million, a PE ratio of -20.00 and a beta of 1.63. The company has a fifty day moving average price of $4.58 and a 200 day moving average price of $3.64. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 1.62.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, November 18th. The asset manager reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The company had revenue of $21.28 million during the quarter, compared to analysts’ expectations of $23.84 million. PennantPark Investment had a positive return on equity of 7.43% and a negative net margin of 16.10%. As a group, research analysts predict that PennantPark Investment Co. will post 0.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 4th. Investors of record on Thursday, December 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, December 16th. This represents a $0.48 dividend on an annualized basis and a yield of 9.60%. PennantPark Investment’s dividend payout ratio is presently 72.73%.

In other PennantPark Investment news, Director Samuel L. Katz purchased 9,490 shares of PennantPark Investment stock in a transaction that occurred on Tuesday, December 15th. The shares were bought at an average price of $4.47 per share, for a total transaction of $42,420.30. Following the acquisition, the director now directly owns 29,210 shares in the company, valued at $130,568.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. XTX Markets LLC purchased a new position in PennantPark Investment during the 3rd quarter valued at about $34,000. Virtu Financial LLC purchased a new position in shares of PennantPark Investment during the 3rd quarter worth approximately $37,000. Two Sigma Securities LLC purchased a new position in shares of PennantPark Investment during the 3rd quarter worth approximately $39,000. Goldman Sachs Group Inc. purchased a new position in shares of PennantPark Investment during the 2nd quarter worth approximately $44,000. Finally, Cerity Partners LLC purchased a new position in shares of PennantPark Investment during the 3rd quarter worth approximately $54,000. Institutional investors own 32.48% of the company’s stock.

PennantPark Investment Company Profile (NASDAQ:PNNT)

PennantPark Investment Corporation is a business development company. It 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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