Janney Montgomery Scott LLC raised its position in PennantPark Investment Corp. (NASDAQ:PNNT) by 28.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,156 shares of the asset manager’s stock after acquiring an additional 41,692 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.27% of PennantPark Investment worth $1,421,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. California Public Employees Retirement System purchased a new stake in shares of PennantPark Investment during the first quarter worth about $344,000. Credit Suisse AG grew its holdings in PennantPark Investment by 330.4% during the 1st quarter. Credit Suisse AG now owns 68,000 shares of the asset manager’s stock valued at $554,000 after buying an additional 52,200 shares in the last quarter. Aperio Group LLC grew its holdings in PennantPark Investment by 31.3% during the 2nd quarter. Aperio Group LLC now owns 67,684 shares of the asset manager’s stock valued at $500,000 after buying an additional 16,151 shares in the last quarter. Trexquant Investment LP purchased a new position in PennantPark Investment during the 2nd quarter valued at approximately $219,000. Finally, Legal & General Group Plc grew its holdings in PennantPark Investment by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 178,616 shares of the asset manager’s stock valued at $1,323,000 after buying an additional 3,668 shares in the last quarter. 42.60% of the stock is currently owned by institutional investors.
PennantPark Investment Corp. (PNNT) traded up $0.06 during trading on Friday, reaching $7.02. The company’s stock had a trading volume of 360,880 shares, compared to its average volume of 409,856. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81. The stock has a market cap of $498.85, a P/E ratio of 8.07, a PEG ratio of 4.82 and a beta of 1.27. PennantPark Investment Corp. has a twelve month low of $6.67 and a twelve month high of $8.68.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The company had revenue of $27.87 million during the quarter, compared to analyst estimates of $29.19 million. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. analysts expect that PennantPark Investment Corp. will post 0.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Tuesday, December 26th were issued a $0.18 dividend. The ex-dividend date was Friday, December 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 10.26%. PennantPark Investment’s payout ratio is 82.76%.
Several research firms have recently issued reports on PNNT. TheStreet lowered PennantPark Investment from a “b-” rating to a “c” rating in a research note on Wednesday, December 13th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $8.50 price target on shares of PennantPark Investment in a research note on Thursday, October 26th. Zacks Investment Research raised PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 target price on shares of PennantPark Investment in a research report on Sunday, November 5th. Finally, ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.38.
In other news, Chairman Arthur H. Penn acquired 12,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was bought at an average cost of $7.31 per share, for a total transaction of $87,720.00. Following the purchase, the chairman now owns 193,410 shares in the company, valued at $1,413,827.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Arthur H. Penn acquired 14,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were purchased at an average price of $7.14 per share, with a total value of $99,960.00. Following the completion of the purchase, the chairman now owns 193,410 shares in the company, valued at approximately $1,380,947.40. The disclosure for this purchase can be found here. Insiders purchased a total of 48,000 shares of company stock valued at $344,280 in the last ninety days. 2.00% of the stock is currently owned by insiders.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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