PennantPark Investment Corp. (PNNT) Receives Average Recommendation of “Hold” from Brokerages

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Shares of PennantPark Investment Corp. (NASDAQ:PNNT) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.30.

Several analysts have issued reports on PNNT shares. TheStreet raised PennantPark Investment from a “c” rating to a “b-” rating in a research report on Thursday, March 29th. ValuEngine cut PennantPark Investment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 17th. Zacks Investment Research raised PennantPark Investment from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, April 11th. Finally, BidaskClub raised PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Thursday, May 24th.

PennantPark Investment opened at $6.95 on Friday, according to MarketBeat.com. The firm has a market cap of $500.98 million, a price-to-earnings ratio of 8.80, a PEG ratio of 4.76 and a beta of 1.15. PennantPark Investment has a 52 week low of $6.29 and a 52 week high of $7.84. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.76.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, May 9th. The asset manager reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $27.23 million for the quarter, compared to the consensus estimate of $27.23 million. PennantPark Investment had a return on equity of 8.17% and a net margin of 38.78%. equities research analysts forecast that PennantPark Investment will post 0.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Monday, June 18th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.36%. PennantPark Investment’s payout ratio is 91.14%.

Institutional investors have recently bought and sold shares of the company. Ares Management LLC boosted its position in shares of PennantPark Investment by 5.7% in the 4th quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock worth $5,918,000 after purchasing an additional 46,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of PennantPark Investment by 179.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock worth $3,220,000 after purchasing an additional 299,280 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of PennantPark Investment by 30.4% in the 4th quarter. Two Sigma Investments LP now owns 487,564 shares of the asset manager’s stock worth $3,369,000 after purchasing an additional 113,680 shares in the last quarter. BlueCrest Capital Management Ltd boosted its position in shares of PennantPark Investment by 615.6% in the 4th quarter. BlueCrest Capital Management Ltd now owns 92,582 shares of the asset manager’s stock worth $640,000 after purchasing an additional 79,644 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of PennantPark Investment by 266.8% in the 4th quarter. Citadel Advisors LLC now owns 73,858 shares of the asset manager’s stock worth $510,000 after purchasing an additional 53,723 shares in the last quarter. 44.89% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Company Profile

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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