PennantPark Investment Co. (NASDAQ:PNNT) Given Consensus Rating of “Hold” by Brokerages

Shares of PennantPark Investment Co. (NASDAQ:PNNTGet Rating) have earned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.00.

Separately, assumed coverage on PennantPark Investment in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of PennantPark Investment by 22.5% during the third quarter. BlackRock Inc. now owns 510,310 shares of the asset manager’s stock valued at $3,312,000 after purchasing an additional 93,585 shares during the last quarter. HighTower Advisors LLC boosted its stake in PennantPark Investment by 10.5% during the 3rd quarter. HighTower Advisors LLC now owns 66,354 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 6,279 shares during the period. Neuberger Berman Group LLC lifted its position in shares of PennantPark Investment by 1.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 375,756 shares of the asset manager’s stock worth $2,439,000 after acquiring an additional 4,133 shares during the period. Marshall Wace LLP bought a new stake in shares of PennantPark Investment in the 3rd quarter worth approximately $2,983,000. Finally, Colony Group LLC bought a new stake in shares of PennantPark Investment in the 3rd quarter worth approximately $167,000. 32.03% of the stock is owned by institutional investors.

PNNT opened at $6.04 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $399.44 million, a price-to-earnings ratio of 4.68 and a beta of 1.68. The business has a 50-day moving average of $7.11 and a two-hundred day moving average of $7.24. PennantPark Investment has a 12 month low of $5.99 and a 12 month high of $8.02.

PennantPark Investment (NASDAQ:PNNTGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The asset manager reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $24.34 million during the quarter, compared to analysts’ expectations of $26.01 million. PennantPark Investment had a return on equity of 6.59% and a net margin of 88.94%. During the same quarter in the previous year, the business earned $0.13 EPS. Equities research analysts anticipate that PennantPark Investment will post 0.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be paid a $0.145 dividend. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, June 16th. This represents a $0.58 annualized dividend and a dividend yield of 9.60%. PennantPark Investment’s dividend payout ratio is presently 44.96%.

PennantPark Investment Company Profile (Get Rating)

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.

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