Arthur H. Penn Purchases 12,000 Shares of PennantPark Investment Corporation (PNNT) Stock

PennantPark Investment Corporation (NASDAQ:PNNT) Chairman Arthur H. Penn purchased 12,000 shares of PennantPark Investment stock in a transaction dated Wednesday, December 6th. The stock was bought at an average price of $7.31 per share, for a total transaction of $87,720.00. Following the completion of the purchase, the chairman now owns 193,410 shares in the company, valued at approximately $1,413,827.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of PennantPark Investment Corporation (NASDAQ PNNT) traded up $0.17 during midday trading on Wednesday, reaching $7.30. 718,568 shares of the company were exchanged, compared to its average volume of 334,025. The company has a market cap of $509.51, a price-to-earnings ratio of 9.08, a PEG ratio of 4.92 and a beta of 1.27. PennantPark Investment Corporation has a 1-year low of $6.67 and a 1-year high of $8.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81.

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 analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $27.87 million during the quarter, compared to the consensus estimate of $29.19 million. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. analysts predict that PennantPark Investment Corporation will post 0.73 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 26th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 9.86%. PennantPark Investment’s dividend payout ratio (DPR) is presently 83.72%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its holdings in PennantPark Investment by 0.6% in the 2nd quarter. Private Advisor Group LLC now owns 28,606 shares of the asset manager’s stock valued at $212,000 after buying an additional 166 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in PennantPark Investment by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock worth $167,000 after purchasing an additional 169 shares during the last quarter. Arete Wealth Advisors LLC raised its holdings in PennantPark Investment by 4.1% during the 2nd quarter. Arete Wealth Advisors LLC now owns 52,401 shares of the asset manager’s stock worth $387,000 after purchasing an additional 2,068 shares during the last quarter. Legal & General Group Plc raised 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 worth $1,323,000 after purchasing an additional 3,668 shares during the last quarter. Finally, B. Riley Financial Inc. raised its holdings in PennantPark Investment by 1.1% during the 2nd quarter. B. Riley Financial Inc. now owns 346,270 shares of the asset manager’s stock worth $2,559,000 after purchasing an additional 3,715 shares during the last quarter. Institutional investors and hedge funds own 42.62% of the company’s stock.

PNNT has been the topic of a number of research analyst reports. J P Morgan Chase & Co upgraded shares of PennantPark Investment from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.00 to $8.50 in a research note on Wednesday, August 9th. BidaskClub upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods set a $9.00 price target on shares of PennantPark Investment and gave the company a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Jefferies Group restated a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a research note on Sunday, November 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.50.

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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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