PennantPark Investment (PNNT) Receiving Somewhat Positive News Coverage, Report Finds

Media stories about PennantPark Investment (NASDAQ:PNNT) have been trending somewhat positive on Tuesday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news 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 media sentiment score of 0.19 on Accern’s scale. Accern also assigned press coverage about the asset manager an impact score of 46.3013028587716 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

PennantPark Investment (NASDAQ:PNNT) traded down $0.02 during trading hours on Tuesday, hitting $7.15. The stock had a trading volume of 175,260 shares, compared to its average volume of 324,889. The company has a market cap of $504.53, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 4.79 and a beta of 1.13. PennantPark Investment has a 1-year low of $6.29 and a 1-year high of $8.20. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.03 and a quick ratio of 3.03.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $28.67 million during the quarter, compared to analyst estimates of $28.12 million. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. analysts expect that PennantPark Investment will post 0.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.07%. The ex-dividend date is Friday, March 16th. PennantPark Investment’s payout ratio is 102.86%.

Several research firms have weighed in on PNNT. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub upgraded PennantPark Investment from a “strong sell” rating to a “sell” rating in a report on Saturday, February 10th. ValuEngine cut PennantPark Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Ladenburg Thalmann Financial Services upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, February 9th. Finally, TheStreet cut PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $8.30.

In related news, Chairman Arthur H. Penn acquired 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $6.94 per share, with a total value of $69,400.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,342,265.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is 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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