PennantPark Investment (PNNT) Stock Rating Lowered by ValuEngine

PennantPark Investment (NASDAQ:PNNT) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities analysts have also commented on the company. Zacks Investment Research upgraded PennantPark Investment from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, April 11th. BidaskClub lowered PennantPark Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, April 6th. TheStreet upgraded PennantPark Investment from a “c” rating to a “b-” rating in a research note on Thursday, March 29th. Finally, Ladenburg Thalmann upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. PennantPark Investment has a consensus rating of “Hold” and a consensus target price of $8.21.

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Shares of PennantPark Investment stock opened at $6.92 on Thursday. The firm has a market cap of $495.29, a PE ratio of 8.76, a PEG ratio of 4.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.03 and a current ratio of 3.03. PennantPark Investment has a 12 month low of $6.29 and a 12 month high of $8.17.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $28.67 million for the quarter, compared to analyst estimates of $28.12 million. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. sell-side analysts predict that PennantPark Investment will post 0.75 earnings per share for the current year.

In related news, Chairman Arthur H. Penn bought 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $6.94 per share, for a total transaction of $69,400.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,342,265.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PNNT. ArrowMark Colorado Holdings LLC grew its stake in PennantPark Investment by 42.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,617,097 shares of the asset manager’s stock valued at $11,174,000 after purchasing an additional 482,214 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in PennantPark Investment by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock valued at $3,220,000 after purchasing an additional 299,280 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in PennantPark Investment by 13.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,338,409 shares of the asset manager’s stock valued at $16,158,000 after purchasing an additional 274,029 shares during the last quarter. Clearbridge LLC grew its stake in PennantPark Investment by 26.6% in the fourth quarter. Clearbridge LLC now owns 1,201,339 shares of the asset manager’s stock valued at $8,301,000 after purchasing an additional 252,657 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in PennantPark Investment by 51.8% in the fourth quarter. Two Sigma Advisers LP now owns 720,455 shares of the asset manager’s stock valued at $4,978,000 after purchasing an additional 245,800 shares during the last quarter. Institutional investors own 42.87% of the company’s stock.

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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.

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Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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