PennantPark Investment Co. (NASDAQ:PNNT) Given Average Rating of “Hold” by Analysts

Shares of PennantPark Investment Co. (NASDAQ:PNNT) have been given an average rating of “Hold” by the five brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $5.8750.

PNNT has been the topic of several research reports. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $5.75 to $5.50 in a report on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price target on PennantPark Investment from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Keefe, Bruyette & Woods cut their price objective on PennantPark Investment from $6.25 to $5.50 and set an “underperform” rating for the company in a report on Wednesday, November 26th. Finally, Truist Financial reduced their price objective on PennantPark Investment from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th.

Insider Activity at PennantPark Investment

In other PennantPark Investment news, Director Jeffrey Flug sold 121,533 shares of PennantPark Investment stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $5.92, for a total transaction of $719,475.36. Following the transaction, the director owned 32,382 shares of the company’s stock, valued at $191,701.44. The trade was a 78.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 235,936 shares of company stock valued at $1,397,761 over the last 90 days. 3.00% of the stock is owned by company insiders.

Institutional Trading of PennantPark Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNNT. Sunbelt Securities Inc. boosted its stake in PennantPark Investment by 493.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 104,245 shares of the asset manager’s stock worth $699,000 after purchasing an additional 86,668 shares during the period. Advisory Services Network LLC purchased a new position in shares of PennantPark Investment in the third quarter worth $38,000. CANADA LIFE ASSURANCE Co boosted its position in shares of PennantPark Investment by 22.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 82,785 shares of the asset manager’s stock worth $554,000 after acquiring an additional 15,100 shares during the last quarter. Brevan Howard Capital Management LP boosted its position in shares of PennantPark Investment by 64.6% during the third quarter. Brevan Howard Capital Management LP now owns 64,778 shares of the asset manager’s stock worth $435,000 after acquiring an additional 25,431 shares during the last quarter. Finally, Crawford Investment Counsel Inc. bought a new stake in PennantPark Investment in the 3rd quarter valued at $135,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $5.95 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 has a market cap of $388.18 million, a price-to-earnings ratio of 22.87 and a beta of 0.62. The business has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $6.70. PennantPark Investment has a fifty-two week low of $5.66 and a fifty-two week high of $7.53.

PennantPark Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a $0.08 dividend. The ex-dividend date is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 16.1%. PennantPark Investment’s dividend payout ratio is presently 192.00%.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.