5,494 Shares in PennantPark Investment Co. (NASDAQ:PNNT) Acquired by Ameriflex Group Inc.

Ameriflex Group Inc. acquired a new stake in PennantPark Investment Co. (NASDAQ:PNNT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,494 shares of the asset manager’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP raised its stake in shares of PennantPark Investment by 10.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,318,818 shares of the asset manager’s stock valued at $9,337,000 after buying an additional 127,100 shares during the period. Two Sigma Investments LP increased its holdings 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 worth $6,474,000 after acquiring an additional 178,423 shares during the last quarter. Millennium Management LLC bought a new stake in PennantPark Investment in the 4th quarter valued at about $3,097,000. Bank of America Corp DE lifted its holdings in PennantPark Investment by 33.6% during the fourth quarter. Bank of America Corp DE now owns 107,104 shares of the asset manager’s stock valued at $758,000 after purchasing an additional 26,953 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in PennantPark Investment during the fourth quarter worth about $80,000. 26.62% of the stock is owned by institutional investors.

Insider Activity

In other PennantPark Investment news, Director Jose A. Briones acquired 3,640 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $6.88 per share, with a total value of $25,043.20. Following the completion of the purchase, the director now owns 268,972 shares of the company’s stock, valued at approximately $1,850,527.36. This represents a 1.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PNNT shares. JPMorgan Chase & Co. dropped their price target on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised PennantPark Investment from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. LADENBURG THALM/SH SH upgraded PennantPark Investment to a “hold” rating in a research report on Wednesday, May 14th. Finally, Compass Point reissued a “sell” rating and set a $5.75 price objective (down previously from $6.00) on shares of PennantPark Investment in a report on Wednesday, May 21st.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $6.69 on Thursday. The company has a 50 day moving average of $6.58 and a 200 day moving average of $6.87. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The stock has a market cap of $436.50 million, a P/E ratio of 25.71 and a beta of 1.02. PennantPark Investment Co. has a 12 month low of $5.72 and a 12 month high of $8.04.

PennantPark Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 14.36%. The ex-dividend date is Thursday, May 15th. PennantPark Investment’s payout ratio is 640.00%.

PennantPark Investment Profile

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.