PennantPark Investment Co. $PNNT Shares Sold by Condor Capital Management

Condor Capital Management decreased its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 93.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 14,151 shares of the asset manager’s stock after selling 192,020 shares during the period. Condor Capital Management’s holdings in PennantPark Investment were worth $97,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC lifted its position in shares of PennantPark Investment by 55.8% during the first quarter. Truvestments Capital LLC now owns 596,573 shares of the asset manager’s stock worth $4,194,000 after purchasing an additional 213,773 shares in the last quarter. Caxton Associates LLP acquired a new stake in PennantPark Investment during the 1st quarter worth approximately $339,000. Integrity Alliance LLC. purchased a new position in PennantPark Investment in the 1st quarter valued at approximately $83,000. Atria Wealth Solutions Inc. boosted its position in PennantPark Investment by 32.1% in the 1st quarter. Atria Wealth Solutions Inc. now owns 25,541 shares of the asset manager’s stock valued at $182,000 after buying an additional 6,206 shares during the period. Finally, Denali Advisors LLC grew its stake in shares of PennantPark Investment by 5.4% in the first quarter. Denali Advisors LLC now owns 108,758 shares of the asset manager’s stock worth $765,000 after acquiring an additional 5,538 shares in the last quarter. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

NASDAQ:PNNT opened at $6.45 on Friday. PennantPark Investment Co. has a 12 month low of $5.72 and a 12 month high of $7.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $421.09 million, a PE ratio of 24.80 and a beta of 0.97. The business’s fifty day moving average price is $6.64 and its 200 day moving average price is $6.84.

PennantPark Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Monday, November 17th. PennantPark Investment’s dividend payout ratio (DPR) is 457.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $6.25 price objective (down from $6.50) on shares of PennantPark Investment in a research note on Wednesday, August 13th. JPMorgan Chase & Co. reduced their price target on PennantPark Investment from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PennantPark Investment currently has a consensus rating of “Reduce” and an average price target of $6.17.

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.