PennantPark Investment Corporation (PNNT) Chairman Arthur H. Penn Buys 12,000 Shares of Stock

PennantPark Investment Corporation (NASDAQ:PNNT) Chairman Arthur H. Penn bought 12,000 shares of PennantPark Investment stock in a transaction dated Wednesday, December 6th. The shares were bought at an average cost of $7.31 per share, for a total transaction of $87,720.00. Following the completion of the acquisition, the chairman now owns 193,410 shares in the company, valued at approximately $1,413,827.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PennantPark Investment Corporation (PNNT) traded up $0.01 on Friday, hitting $7.20. The stock had a trading volume of 363,590 shares, compared to its average volume of 374,642. The firm has a market cap of $510.93, a price-to-earnings ratio of 9.10, a P/E/G ratio of 4.95 and a beta of 1.27. PennantPark Investment Corporation has a 12 month low of $6.67 and a 12 month high of $8.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 26th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 10.00%. The ex-dividend date is Friday, December 22nd. PennantPark Investment’s dividend payout ratio (DPR) is presently 83.72%.

Several analysts have recently issued reports on the company. BidaskClub raised PennantPark Investment from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised PennantPark Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods set a $9.00 target price on PennantPark Investment and gave the stock a “hold” rating in a report on Friday, August 25th. Jefferies Group reissued a “hold” rating and set a $8.00 target price on shares of PennantPark Investment in a report on Sunday, November 5th. Finally, ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.50.

A number of large investors have recently added to or reduced their stakes in PNNT. California Public Employees Retirement System acquired a new stake in PennantPark Investment in the first quarter valued at about $344,000. Credit Suisse AG boosted its stake in PennantPark Investment by 330.4% in the first quarter. Credit Suisse AG now owns 68,000 shares of the asset manager’s stock valued at $554,000 after buying an additional 52,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in PennantPark Investment by 95.5% in the first quarter. Goldman Sachs Group Inc. now owns 113,142 shares of the asset manager’s stock valued at $921,000 after buying an additional 55,258 shares in the last quarter. Aperio Group LLC boosted its stake in PennantPark Investment by 31.3% in the second quarter. Aperio Group LLC now owns 67,684 shares of the asset manager’s stock valued at $500,000 after buying an additional 16,151 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in PennantPark Investment by 10.7% in the second quarter. Janney Montgomery Scott LLC now owns 147,464 shares of the asset manager’s stock valued at $1,090,000 after buying an additional 14,215 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.

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