PennantPark Investment (NASDAQ:PNNT) Sees Unusually-High Trading Volume

PennantPark Investment Co. (NASDAQ:PNNTGet Free Report) shares saw unusually-strong trading volume on Monday . Approximately 555,839 shares traded hands during mid-day trading, an increase of 33% from the previous session’s volume of 417,575 shares.The stock last traded at $7.86 and had previously closed at $7.74.

Wall Street Analysts Forecast Growth

PNNT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upgraded PennantPark Investment to a “hold” rating in a research note on Friday, May 10th. Raymond James lowered shares of PennantPark Investment from an “outperform” rating to a “market perform” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.94.

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PennantPark Investment Stock Performance

The company has a 50 day moving average price of $7.48 and a 200-day moving average price of $7.09. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The company has a market cap of $513.93 million, a P/E ratio of 8.57 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNTGet Free Report) last announced its earnings results on Wednesday, May 8th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. The company had revenue of $35.98 million during the quarter, compared to the consensus estimate of $36.22 million. Equities analysts expect that PennantPark Investment Co. will post 0.92 EPS for the current fiscal year.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.18%. PennantPark Investment’s dividend payout ratio is presently 104.35%.

Hedge Funds Weigh In On PennantPark Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new stake in shares of PennantPark Investment in the first quarter valued at $748,000. EMC Capital Management lifted its holdings in PennantPark Investment by 10.5% in the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $219,000 after acquiring an additional 3,014 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of PennantPark Investment during the 1st quarter valued at about $1,941,000. Advisors Asset Management Inc. grew its stake in shares of PennantPark Investment by 4.3% in the 1st quarter. Advisors Asset Management Inc. now owns 652,220 shares of the asset manager’s stock worth $4,487,000 after purchasing an additional 26,933 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of PennantPark Investment by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock worth $416,000 after purchasing an additional 3,402 shares in the last quarter. 26.62% of the stock is owned by institutional investors.

PennantPark Investment Company Profile

(Get Free Report)

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.

Further Reading

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