Media coverage about PennantPark Investment (NASDAQ:PNNT) has trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. PennantPark Investment earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave media coverage about the asset manager an impact score of 46.7567013497584 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- Yield Went Up As Price Declined (seekingalpha.com)
- $0.18 Earnings Per Share Expected for PennantPark Investment Corp. (PNNT) This Quarter (americanbankingnews.com)
- PennantPark Investment Corp. (PNNT) Chairman Arthur H. Penn Purchases 10,000 Shares (americanbankingnews.com)
- Early Moves to Watch – PennantPark Investment Corporation (NASDAQ: PNNT) – Alpha Beta Stock (alphabetastock.com)
- How Analysts Rated PennantPark Investment Corporation (NASDAQ:PNNT) Last Week? – Reurope (reurope.com)
PNNT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment in a report on Thursday, October 26th. Zacks Investment Research downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Jefferies Group reissued a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a report on Sunday, November 5th. ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, TheStreet downgraded PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.30.
PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Wednesday, February 7th. The asset manager reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. PennantPark Investment had a return on equity of 7.63% and a net margin of 42.89%. The company had revenue of $28.67 million for the quarter, compared to the consensus estimate of $28.12 million. During the same quarter last year, the business posted $0.21 EPS. PennantPark Investment’s quarterly revenue was down 10.0% compared to the same quarter last year. sell-side analysts anticipate that PennantPark Investment will post 0.74 earnings per share for the current year.
In other news, Chairman Arthur H. Penn bought 12,000 shares of PennantPark Investment stock in a transaction on Wednesday, December 6th. The shares were bought at an average price of $7.31 per share, with a total value of $87,720.00. Following the acquisition, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,413,827.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aviv Efrat bought 10,000 shares of PennantPark Investment stock in a transaction on Monday, December 4th. The shares were purchased at an average cost 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 ninety days, insiders have acquired 58,000 shares of company stock worth $413,680. 2.00% of the stock is currently owned by company insiders.
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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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