PennantPark Investment (NASDAQ:PNNT) Director Jeffrey Flug Sells 21,100 Shares of Stock

PennantPark Investment Co. (NASDAQ:PNNT) Director Jeffrey Flug sold 21,100 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $6.04, for a total value of $127,444.00. Following the completion of the transaction, the director directly owned 207,218 shares of the company’s stock, valued at approximately $1,251,596.72. This represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Jeffrey Flug also recently made the following trade(s):

• On Friday, November 28th, Jeffrey Flug sold 15,000 shares of PennantPark Investment stock. The stock was sold at an average price of $6.06, for a total value of $90,900.00.
• On Wednesday, November 26th, Jeffrey Flug sold 25,000 shares of PennantPark Investment stock. The shares were sold at an average price of $6.03, for a total value of $150,750.00.

PennantPark Investment Stock Performance

Shares of PennantPark Investment stock traded down $0.10 during trading hours on Tuesday, hitting $5.78. 1,586,987 shares of the company’s stock traded hands, compared to its average volume of 510,410. The stock has a market capitalization of $377.28 million, a price-to-earnings ratio of 22.22 and a beta of 0.97. PennantPark Investment Co. has a 12-month low of $5.66 and a 12-month high of $7.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day simple moving average of $6.45 and a 200-day simple moving average of $6.81.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a c) annualized dividend and a yield of 16.6%. PennantPark Investment’s payout ratio is currently 192.00%.

Institutional Trading of PennantPark Investment

A number of institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its holdings in PennantPark Investment by 3.7% in the 1st quarter. Advisors Asset Management Inc. now owns 610,144 shares of the asset manager’s stock worth $4,289,000 after buying an additional 21,836 shares during the period. Truvestments Capital LLC lifted its position in shares of PennantPark Investment by 55.8% during the first quarter. Truvestments Capital LLC now owns 596,573 shares of the asset manager’s stock worth $4,194,000 after acquiring an additional 213,773 shares in the last quarter. UBS Group AG boosted its holdings in shares of PennantPark Investment by 35.8% in the third quarter. UBS Group AG now owns 209,725 shares of the asset manager’s stock worth $1,407,000 after acquiring an additional 55,331 shares during the period. Condor Capital Management grew its position in shares of PennantPark Investment by 4.4% in the first quarter. Condor Capital Management now owns 206,171 shares of the asset manager’s stock valued at $1,449,000 after purchasing an additional 8,738 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of PennantPark Investment by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 132,518 shares of the asset manager’s stock valued at $906,000 after purchasing an additional 1,486 shares in the last quarter. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNNT has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of PennantPark Investment from $6.25 to $5.50 and set an “underperform” rating for the company in a research report on Wednesday, November 26th. Truist Financial dropped their price objective on PennantPark Investment from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. decreased their target price on PennantPark Investment from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.94.

PennantPark Investment Company Profile

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.