BidaskClub Upgrades PennantPark Investment (PNNT) to “Sell”

PennantPark Investment (NASDAQ:PNNT) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.

PNNT has been the topic of a number of other research reports. ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Ladenburg Thalmann upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, February 9th. Finally, TheStreet upgraded PennantPark Investment from a “c” rating to a “b-” rating in a research note on Thursday, March 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. PennantPark Investment presently has an average rating of “Hold” and a consensus price target of $8.21.

PennantPark Investment opened at $7.23 on Wednesday, Marketbeat.com reports. The company has a market capitalization of $500.98 million, a PE ratio of 9.15, a P/E/G ratio of 4.74 and a beta of 1.12. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.76. PennantPark Investment has a 12-month low of $7.06 and a 12-month high of $7.13.

PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Wednesday, May 9th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.23 million. PennantPark Investment had a return on equity of 8.17% and a net margin of 38.78%. equities analysts predict that PennantPark Investment will post 0.74 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the stock. LSV Asset Management boosted its stake in shares of PennantPark Investment by 0.7% in the first quarter. LSV Asset Management now owns 3,115,872 shares of the asset manager’s stock valued at $20,814,000 after buying an additional 20,600 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in shares of PennantPark Investment by 31.2% in the first quarter. Muzinich & Co. Inc. now owns 2,355,718 shares of the asset manager’s stock valued at $15,736,000 after buying an additional 560,038 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of PennantPark Investment by 13.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,338,409 shares of the asset manager’s stock valued at $16,158,000 after buying an additional 274,029 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PennantPark Investment by 8.9% in the first quarter. JPMorgan Chase & Co. now owns 2,269,825 shares of the asset manager’s stock valued at $15,161,000 after buying an additional 185,389 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in shares of PennantPark Investment by 42.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,617,097 shares of the asset manager’s stock valued at $11,174,000 after buying an additional 482,214 shares in the last quarter. Hedge funds and other institutional investors own 43.53% of the company’s stock.

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.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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