ValuEngine cut shares of PennantPark Investment (NASDAQ:PNNT) from a strong-buy rating to a buy rating in a research note released on Friday, February 2nd.
Several other equities research analysts have also issued reports on PNNT. Zacks Investment Research raised PennantPark Investment from a sell rating to a hold rating in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $8.50 price target on shares of PennantPark Investment in a research note on Thursday, October 26th. Jefferies Group reaffirmed a hold rating and set a $8.00 price target on shares of PennantPark Investment in a research note on Sunday, November 5th. Finally, TheStreet lowered PennantPark Investment from a b- rating to a c rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $8.30.
PennantPark Investment (NASDAQ PNNT) traded up $0.13 during trading hours on Friday, reaching $6.90. The company had a trading volume of 967,850 shares, compared to its average volume of 381,667. The company has a market capitalization of $490.32, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 4.78 and a beta of 1.22. PennantPark Investment has a 12 month low of $6.29 and a 12 month high of $8.68. The company has a quick ratio of 1.66, a current ratio of 3.03 and a debt-to-equity ratio of 0.79.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $28.67 million during the quarter, compared to analyst estimates of $28.12 million. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. equities analysts predict that PennantPark Investment will post 0.73 earnings per share for the current year.
In other PennantPark Investment news, Chairman Arthur H. Penn purchased 12,000 shares of PennantPark Investment stock in a transaction that occurred on Friday, December 1st. The shares were bought at an average price of $7.10 per share, for a total transaction of $85,200.00. Following the acquisition, the chairman now directly owns 193,410 shares in the company, valued at $1,373,211. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aviv Efrat purchased 10,000 shares of PennantPark Investment stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average price of $7.14 per share, for a total transaction of $71,400.00. Following the acquisition, the chief financial officer now owns 106,102 shares in the company, valued at $757,568.28. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 48,000 shares of company stock worth $344,280. 2.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of PennantPark Investment by 49.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 168,903 shares of the asset manager’s stock worth $1,248,000 after acquiring an additional 55,761 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of PennantPark Investment by 83.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 41,428 shares of the asset manager’s stock worth $311,000 after acquiring an additional 18,848 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of PennantPark Investment by 28.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock worth $1,421,000 after acquiring an additional 41,692 shares during the period. Parametric Portfolio Associates LLC grew its holdings in shares of PennantPark Investment by 46.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 154,128 shares of the asset manager’s stock worth $1,139,000 after acquiring an additional 48,729 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of PennantPark Investment by 15.6% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 140,223 shares of the asset manager’s stock worth $1,053,000 after acquiring an additional 18,962 shares during the period. Hedge funds and other institutional investors own 42.77% of the company’s stock.
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About PennantPark Investment
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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