PennantPark Investment (NASDAQ:PNNT) Share Price Crosses Above 200 Day Moving Average – What’s Next?

PennantPark Investment Co. (NASDAQ:PNNT)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.87 and traded as high as $7.21. PennantPark Investment shares last traded at $7.18, with a volume of 325,299 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PNNT shares. LADENBURG THALM/SH SH upgraded PennantPark Investment to a “hold” rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Compass Point reiterated a “sell” rating and set a $5.75 target price (down from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. reduced 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.

PennantPark Investment Stock Performance

The company has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $6.87. The stock has a market capitalization of $468.50 million, a P/E ratio of 27.60 and a beta of 1.07. 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 firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a c) annualized dividend and a yield of 13.4%. PennantPark Investment’s dividend payout ratio (DPR) is 640.00%.

Insider Transactions at PennantPark Investment

In related news, Director Jose A. Briones purchased 3,640 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $6.88 per share, with a total value of $25,043.20. Following the completion of the acquisition, the director directly owned 268,972 shares of the company’s stock, valued at approximately $1,850,527.36. The trade was a 1.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PNNT. Cambridge Investment Research Advisors Inc. increased its position in shares of PennantPark Investment by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,882 shares of the asset manager’s stock valued at $252,000 after buying an additional 2,445 shares during the period. Millennium Management LLC purchased a new stake in PennantPark Investment in the 4th quarter worth approximately $3,097,000. Sunbelt Securities Inc. boosted its holdings in PennantPark Investment by 309.8% in the 1st quarter. Sunbelt Securities Inc. now owns 72,025 shares of the asset manager’s stock valued at $506,000 after purchasing an additional 54,448 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PennantPark Investment during the fourth quarter valued at $2,470,000. Finally, Bank of America Corp DE boosted its position in shares of PennantPark Investment by 33.6% during the 4th quarter. Bank of America Corp DE now owns 107,104 shares of the asset manager’s stock valued at $758,000 after acquiring an additional 26,953 shares during the last quarter. Institutional investors own 26.62% of the company’s stock.

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.