Advisors Capital Management LLC Has $694,000 Holdings in PennantPark Investment Co. $PNNT

Advisors Capital Management LLC cut its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,694 shares of the asset manager’s stock after selling 18,072 shares during the period. Advisors Capital Management LLC owned approximately 0.15% of PennantPark Investment worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNNT. Quarry LP bought a new stake in PennantPark Investment during the 1st quarter worth about $34,000. Ameriflex Group Inc. bought a new stake in PennantPark Investment during the 4th quarter worth about $39,000. BNP Paribas Financial Markets bought a new stake in PennantPark Investment during the 4th quarter worth about $80,000. Integrity Alliance LLC. bought a new stake in PennantPark Investment during the 1st quarter worth about $83,000. Finally, PharVision Advisers LLC bought a new stake in PennantPark Investment during the 1st quarter worth about $95,000. 26.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNNT shares. JPMorgan Chase & Co. boosted their price target on shares of PennantPark Investment from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $6.25 price target (down from $6.50) on shares of PennantPark Investment in a research report on Wednesday, August 13th. Finally, Compass Point reaffirmed a “sell” rating and issued a $5.75 target price (down from $6.00) on shares of PennantPark Investment in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.33.

PennantPark Investment Stock Down 0.1%

Shares of PNNT stock opened at $7.11 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50-day moving average is $7.20 and its 200-day moving average is $6.89. The stock has a market cap of $463.93 million, a price-to-earnings ratio of 27.33 and a beta of 1.04. PennantPark Investment Co. has a 52-week low of $5.72 and a 52-week high of $7.53.

PennantPark Investment Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a $0.08 dividend. The ex-dividend date was Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 13.5%. PennantPark Investment’s dividend payout ratio is 457.14%.

PennantPark Investment Company 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.