News headlines about PennantPark Investment Corporation (NASDAQ:PNNT) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. PennantPark Investment Corporation earned a daily sentiment score of 0.08 on Accern’s scale. Accern also gave news stories about the asset manager an impact score of 46.6483288261192 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several research firms recently issued reports on PNNT. BidaskClub upgraded shares of PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co upgraded shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $8.50 in a report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 target price on shares of PennantPark Investment Corporation and gave the company a “hold” rating in a report on Monday, May 22nd. Jefferies Group LLC restated a “hold” rating and issued a $8.00 target price on shares of PennantPark Investment Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.25.
PennantPark Investment Corporation (PNNT) opened at 7.51 on Wednesday. PennantPark Investment Corporation has a one year low of $6.86 and a one year high of $8.68. The stock’s 50 day moving average is $7.55 and its 200 day moving average is $7.72.
PennantPark Investment Corporation (NASDAQ:PNNT) last posted its earnings results on Monday, August 7th. The asset manager reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The company had revenue of $31.10 million during the quarter, compared to analysts’ expectations of $31.09 million. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities research analysts expect that PennantPark Investment Corporation will post $0.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.72 annualized dividend and a dividend yield of 9.59%. PennantPark Investment Corporation’s dividend payout ratio is 74.23%.
In related news, Chairman Arthur H. Penn bought 28,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $7.62 per share, with a total value of $213,360.00. Following the transaction, the chairman now owns 193,410 shares in the company, valued at approximately $1,473,784.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Arthur H. Penn bought 32,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $7.72 per share, with a total value of $247,040.00. Following the completion of the transaction, the chairman now owns 183,400 shares in the company, valued at approximately $1,415,848. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
About PennantPark Investment Corporation
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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