Insider Buying: PennantPark Investment Co. (NASDAQ:PNNT) Director Acquires $25,043.20 in Stock

PennantPark Investment Co. (NASDAQ:PNNT) Director Jose A. Briones purchased 3,640 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $6.88 per share, for a total transaction of $25,043.20. Following the purchase, the director now directly owns 268,972 shares of the company’s stock, valued at $1,850,527.36. This trade represents a 1.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PennantPark Investment Trading Up 1.5%

PennantPark Investment stock opened at $6.81 on Monday. The firm has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $6.88. 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 stock has a market capitalization of $444.73 million, a PE ratio of 26.20 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 Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.09%. The ex-dividend date is Thursday, May 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 640.00%.

Wall Street Analyst Weigh In

PNNT has been the topic of several analyst reports. 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. StockNews.com upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH upgraded shares of PennantPark Investment to a “hold” rating in a report on Wednesday, May 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNNT. Two Sigma Advisers LP grew its position in 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 worth $9,337,000 after buying an additional 127,100 shares during the last quarter. Two Sigma Investments LP grew its position in PennantPark Investment by 24.2% in the fourth quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager’s stock worth $6,474,000 after buying an additional 178,423 shares during the last quarter. Advisors Asset Management Inc. grew its position in PennantPark Investment by 3.7% in the first quarter. Advisors Asset Management Inc. now owns 610,144 shares of the asset manager’s stock worth $4,289,000 after buying an additional 21,836 shares during the last quarter. Truvestments Capital LLC grew its position in PennantPark Investment by 55.8% in the first quarter. Truvestments Capital LLC now owns 596,573 shares of the asset manager’s stock worth $4,194,000 after buying an additional 213,773 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in PennantPark Investment in the fourth quarter worth approximately $3,097,000. 26.62% of the stock is currently owned by institutional investors.

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.