Two Sigma Advisers LP Has $9.34 Million Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

Two Sigma Advisers LP raised its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 10.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,318,818 shares of the asset manager’s stock after buying an additional 127,100 shares during the quarter. Two Sigma Advisers LP’s holdings in PennantPark Investment were worth $9,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Investments LP increased its position in PennantPark Investment by 24.2% in the 4th quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager’s stock valued at $6,474,000 after acquiring an additional 178,423 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of PennantPark Investment during the 4th quarter worth approximately $3,097,000. Truvestments Capital LLC grew its position in shares of PennantPark Investment by 5.8% during the 4th quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager’s stock worth $2,710,000 after buying an additional 20,907 shares during the period. NewEdge Wealth LLC grew its position in shares of PennantPark Investment by 1.2% during the 4th quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager’s stock worth $2,030,000 after buying an additional 3,470 shares during the period. Finally, Condor Capital Management grew its position in shares of PennantPark Investment by 5.9% during the 4th quarter. Condor Capital Management now owns 197,433 shares of the asset manager’s stock worth $1,398,000 after buying an additional 10,994 shares during the period. Institutional investors and hedge funds own 26.62% of the company’s stock.

PennantPark Investment Stock Down 0.1%

PennantPark Investment stock opened at $6.57 on Friday. The company’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.88. PennantPark Investment Co. has a fifty-two week low of $5.72 and a fifty-two week high of $8.04. The firm has a market capitalization of $428.67 million, a price-to-earnings ratio of 25.25 and a beta of 1.02. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 14.62%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Investment’s payout ratio is 640.00%.

Insider Buying and Selling

In other news, Director Jose A. Briones acquired 3,640 shares of PennantPark Investment stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $6.88 per share, with a total value of $25,043.20. Following the purchase, the director now directly owns 268,972 shares of the company’s stock, valued at $1,850,527.36. The trade was a 1.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

PNNT has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded shares of PennantPark Investment to a “hold” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price target on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Compass Point reiterated a “sell” rating and set a $5.75 price target (down previously from $6.00) on shares of PennantPark Investment in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th.

About PennantPark Investment

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.