Shares of PennantPark Investment Corp. (NASDAQ:PNNT) have received a consensus rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.30.
Several equities analysts recently commented on the company. ValuEngine cut PennantPark Investment from a “strong-buy” rating to a “buy” rating in a research report on Saturday. BidaskClub cut PennantPark Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 13th. Zacks Investment Research upgraded PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Ladenburg Thalmann Financial Services upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Friday, February 9th. Finally, TheStreet cut PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th.
In other news, Chairman Arthur H. Penn purchased 10,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $6.94 per share, with a total value of $69,400.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,342,265.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. lifted its stake in PennantPark Investment by 83.5% during the third quarter. Pinebridge Investments L.P. now owns 41,428 shares of the asset manager’s stock worth $311,000 after purchasing an additional 18,848 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in PennantPark Investment by 28.3% during the third quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock worth $1,421,000 after purchasing an additional 41,692 shares during the last quarter. Ares Management LLC lifted its stake in PennantPark Investment by 5.7% during the fourth quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock worth $5,918,000 after purchasing an additional 46,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in PennantPark Investment by 15.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 140,223 shares of the asset manager’s stock worth $1,053,000 after purchasing an additional 18,962 shares during the last quarter. Finally, Claraphi Advisory Network LLC bought a new stake in PennantPark Investment during the fourth quarter worth about $263,000. 42.90% of the stock is owned by hedge funds and other institutional investors.
PNNT stock opened at $6.78 on Wednesday. PennantPark Investment has a 52-week low of $6.29 and a 52-week high of $8.20. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.03 and a current ratio of 3.03. The company has a market capitalization of $486.06, a PE ratio of 9.69, a P/E/G ratio of 4.61 and a beta of 1.13.
PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.20 EPS 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 business had revenue of $28.67 million during the quarter, compared to analysts’ expectations of $28.12 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis. equities research analysts predict that PennantPark Investment will post 0.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 10.62%. The ex-dividend date of this dividend is Friday, March 16th. PennantPark Investment’s dividend payout ratio (DPR) is currently 102.86%.
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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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