PennantPark Investment (NASDAQ:PNNT) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
Several other research firms have also recently weighed in on PNNT. ValuEngine upgraded PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. TheStreet cut PennantPark Investment from a “b-” rating to a “c” rating in a research note on Wednesday, December 13th. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, Ladenburg Thalmann Financial Services upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. PennantPark Investment presently has an average rating of “Hold” and an average target price of $8.30.
PennantPark Investment (PNNT) opened at $7.17 on Tuesday. PennantPark Investment has a one year low of $6.29 and a one year high of $8.20. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $509.51, a price-to-earnings ratio of 10.24, a PEG ratio of 4.79 and a beta of 1.13.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The firm had revenue of $28.67 million during the quarter, compared to analysts’ expectations of $28.12 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue was down 10.0% on a year-over-year basis. research analysts expect that PennantPark Investment will post 0.74 EPS for the current fiscal year.
In other news, Chairman Arthur H. Penn acquired 10,000 shares of PennantPark Investment stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $6.94 per share, for a total transaction of $69,400.00. Following the completion of the transaction, the chairman now owns 193,410 shares in the company, valued at $1,342,265.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of PNNT. Eqis Capital Management Inc. purchased a new stake in PennantPark Investment during the fourth quarter valued at $143,000. Koch Industries Inc. purchased a new stake in PennantPark Investment during the fourth quarter valued at $184,000. Global X MANAGEMENT CO LLC increased its position in PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 8,165 shares during the last quarter. Dean Capital Investments Management LLC purchased a new stake in PennantPark Investment during the fourth quarter valued at $193,000. Finally, Stevens Capital Management LP purchased a new stake in PennantPark Investment during the third quarter valued at $199,000. Institutional investors own 42.93% of the company’s stock.
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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