Wall Street analysts expect PennantPark Investment Corp. (NASDAQ:PNNT) to announce sales of $29.46 million for the current quarter, Zacks reports. Four analysts have provided estimates for PennantPark Investment’s earnings. The highest sales estimate is $30.07 million and the lowest is $28.77 million. PennantPark Investment posted sales of $28.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The firm is expected to report its next earnings report on Thursday, May 14th.
On average, analysts expect that PennantPark Investment will report full-year sales of $117.19 million for the current fiscal year, with estimates ranging from $115.97 million to $119.98 million. For the next fiscal year, analysts anticipate that the business will post sales of $129.85 million, with estimates ranging from $126.66 million to $134.44 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). PennantPark Investment had a net margin of 25.60% and a return on equity of 7.19%. The business had revenue of $26.00 million for the quarter, compared to the consensus estimate of $27.53 million.
In other news, CEO Arthur H. Penn bought 10,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average price of $6.56 per share, for a total transaction of $65,600.00. Following the completion of the acquisition, the chief executive officer now owns 193,410 shares of the company’s stock, valued at $1,268,769.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arthur H. Penn bought 16,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $6.08 per share, for a total transaction of $97,280.00. Following the acquisition, the chief executive officer now directly owns 193,410 shares of the company’s stock, valued at approximately $1,175,932.80. The disclosure for this purchase can be found here. Insiders bought 42,000 shares of company stock worth $261,600 in the last 90 days. Company insiders own 3.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PNNT. Parametric Portfolio Associates LLC increased its holdings in PennantPark Investment by 4.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 178,549 shares of the asset manager’s stock valued at $1,128,000 after buying an additional 8,166 shares during the period. BlackRock Inc. increased its holdings in PennantPark Investment by 8.4% in the 2nd quarter. BlackRock Inc. now owns 352,616 shares of the asset manager’s stock valued at $2,228,000 after buying an additional 27,248 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in PennantPark Investment in the 2nd quarter valued at about $77,000. Confluence Investment Management LLC increased its holdings in PennantPark Investment by 0.3% in the 3rd quarter. Confluence Investment Management LLC now owns 913,707 shares of the asset manager’s stock valued at $5,729,000 after buying an additional 2,538 shares during the period. Finally, Clear Street Markets LLC bought a new position in PennantPark Investment in the 3rd quarter valued at about $159,000. 39.02% of the stock is owned by institutional investors.
NASDAQ PNNT traded up $0.03 on Friday, reaching $6.59. 296,642 shares of the company’s stock traded hands, compared to its average volume of 304,084. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.46 and a quick ratio of 0.46. PennantPark Investment has a 12 month low of $5.84 and a 12 month high of $7.34. The stock has a market cap of $441.83 million, a PE ratio of 15.33 and a beta of 1.07. The stock has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $6.35.
About PennantPark Investment
PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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