Mckinley Capital Management LLC Delaware reduced its stake in shares of PennantPark Investment Corp. (NASDAQ:PNNT) by 32.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,906 shares of the asset manager’s stock after selling 87,882 shares during the period. Mckinley Capital Management LLC Delaware owned 0.26% of PennantPark Investment worth $1,271,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PNNT. Ameriprise Financial Inc. lifted its holdings in shares of PennantPark Investment by 25.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 37,330 shares of the asset manager’s stock worth $276,000 after acquiring an additional 7,514 shares during the period. Northern Trust Corp purchased a new position in shares of PennantPark Investment during the 2nd quarter worth about $302,000. Parametric Portfolio Associates LLC lifted its holdings in shares of PennantPark Investment by 46.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 154,128 shares of the asset manager’s stock worth $1,139,000 after acquiring an additional 48,729 shares during the period. Stifel Financial Corp lifted its holdings in shares of PennantPark Investment by 50.5% during the 2nd quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock worth $205,000 after acquiring an additional 9,300 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of PennantPark Investment by 49.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 168,903 shares of the asset manager’s stock worth $1,248,000 after acquiring an additional 55,761 shares during the period. Institutional investors and hedge funds own 42.80% of the company’s stock.
In related news, Chairman Arthur H. Penn purchased 12,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average price of $7.10 per share, with a total value of $85,200.00. Following the completion of the transaction, the chairman now owns 193,410 shares of the company’s stock, valued at $1,373,211. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aviv Efrat purchased 10,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were bought at an average cost of $7.14 per share, with a total value of $71,400.00. Following the transaction, the chief financial officer now directly owns 106,102 shares of the company’s stock, valued at approximately $757,568.28. The disclosure for this purchase can be found here. Insiders acquired 58,000 shares of company stock valued at $413,680 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The firm had revenue of $28.67 million during the quarter, compared to the consensus estimate of $28.12 million. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was down 10.0% on a year-over-year basis. analysts expect that PennantPark Investment Corp. will post 0.74 earnings per share for the current year.
Several research analysts have recently weighed in on PNNT shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment in a report on Thursday, October 26th. TheStreet lowered shares of PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. Zacks Investment Research upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.30.
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.
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