PennantPark Investment Corporation (PNNT) CFO Aviv Efrat Acquires 10,000 Shares

PennantPark Investment Corporation (NASDAQ:PNNT) CFO Aviv Efrat bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of $7.14 per share, for a total transaction of $71,400.00. Following the completion of the transaction, the chief financial officer now owns 106,102 shares in the company, valued at $757,568.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PennantPark Investment Corporation (NASDAQ PNNT) traded down $0.04 during trading hours on Wednesday, reaching $7.13. 557,400 shares of the company’s stock traded hands, compared to its average volume of 332,382. PennantPark Investment Corporation has a one year low of $6.67 and a one year high of $8.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $509.51, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 4.92 and a beta of 1.27.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business had revenue of $27.87 million during the quarter, compared to analysts’ expectations of $29.19 million. During the same period in the previous year, the company posted $0.21 earnings per share. PennantPark Investment’s revenue for the quarter was down 13.3% compared to the same quarter last year. research analysts predict that PennantPark Investment Corporation will post 0.73 EPS for the current year.

Large investors have recently bought and sold shares of the business. Shelton Capital Management purchased a new stake in shares of PennantPark Investment during the 3rd quarter worth about $233,000. Belpointe Asset Management LLC purchased a new stake in shares of PennantPark Investment during the 3rd quarter worth about $230,000. California Public Employees Retirement System boosted its stake in shares of PennantPark Investment by 29.6% during the 3rd quarter. California Public Employees Retirement System now owns 54,700 shares of the asset manager’s stock worth $411,000 after acquiring an additional 12,500 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake 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 in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake 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 in the last quarter. 42.62% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on PNNT. J P Morgan Chase & Co raised PennantPark Investment from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $8.50 in a research report on Wednesday, August 9th. BidaskClub raised PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods set a $9.00 target price on PennantPark Investment and gave the company a “hold” rating in a research report on Friday, August 25th. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a report on Sunday, November 5th. Finally, ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.50.

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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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