PennantPark Investment (PNNT) Stock Rating Lowered by TheStreet

PennantPark Investment (NASDAQ:PNNT) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also weighed in on PNNT. Zacks Investment Research upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Keefe, Bruyette & Woods set a $9.00 target price on shares of PennantPark Investment and gave the stock a “hold” rating in a research report on Friday, August 25th. Jefferies Group reiterated a “hold” rating and set a $8.00 target price on shares of PennantPark Investment in a research report on Sunday, November 5th. Finally, ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. PennantPark Investment presently has a consensus rating of “Hold” and a consensus price target of $8.50.

PennantPark Investment (NASDAQ PNNT) traded down $0.04 on Wednesday, reaching $7.14. 451,400 shares of the company traded hands, compared to its average volume of 336,707. The company has a market capitalization of $510.22, a price-to-earnings ratio of 9.09, a P/E/G ratio of 4.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.66 and a current ratio of 1.66. PennantPark Investment has a one year low of $6.67 and a one year high of $8.68.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $29.19 million. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. PennantPark Investment’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. equities analysts predict that PennantPark Investment will post 0.73 EPS for the current year.

In related news, CFO Aviv Efrat bought 10,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average cost of $7.14 per share, with a total value of $71,400.00. Following the completion of the purchase, the chief financial officer now directly owns 106,102 shares of the company’s stock, valued at approximately $757,568.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Arthur H. Penn bought 14,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was bought at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,380,947.40. The disclosure for this purchase can be found here. Over the last three months, insiders bought 48,000 shares of company stock worth $344,280. Insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC raised its stake in shares of PennantPark Investment by 0.6% during the second quarter. Private Advisor Group LLC now owns 28,606 shares of the asset manager’s stock worth $212,000 after acquiring an additional 166 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of PennantPark Investment by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock worth $167,000 after acquiring an additional 169 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in shares of PennantPark Investment by 4.1% during the second quarter. Arete Wealth Advisors LLC now owns 52,401 shares of the asset manager’s stock worth $387,000 after acquiring an additional 2,068 shares in the last quarter. Legal & General Group Plc raised its stake in shares of PennantPark Investment by 2.1% during the second quarter. Legal & General Group Plc now owns 178,616 shares of the asset manager’s stock worth $1,323,000 after acquiring an additional 3,668 shares in the last quarter. Finally, B. Riley Financial Inc. raised its stake in shares of PennantPark Investment by 1.1% during the second quarter. B. Riley Financial Inc. now owns 346,270 shares of the asset manager’s stock worth $2,559,000 after acquiring an additional 3,715 shares in the last quarter. 42.62% of the stock is currently owned by institutional investors and hedge funds.

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About PennantPark Investment

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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