PennantPark Investment (NASDAQ:PNNT) will be releasing its earnings data after the market closes on Wednesday, February 7th. Analysts expect PennantPark Investment to post earnings of $0.19 per share for the quarter.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The company had revenue of $27.87 million during the quarter, compared to the consensus estimate of $29.19 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company’s revenue was down 13.3% compared to the same quarter last year. On average, analysts expect PennantPark Investment to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Shares of PennantPark Investment (NASDAQ PNNT) opened at $6.70 on Monday. 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 52-week low of $6.67 and a 52-week high of $8.68. The company has a market cap of $476.11, a PE ratio of 7.70, a price-to-earnings-growth ratio of 4.61 and a beta of 1.22.
Several equities research analysts have commented on PNNT shares. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Saturday, November 4th. TheStreet cut shares of PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th. Jefferies Group reissued a “hold” rating and set a $8.00 price target on shares of PennantPark Investment in a research report on Sunday, November 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $8.50 price target on shares of PennantPark Investment in a research report on Thursday, October 26th. Finally, ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. PennantPark Investment currently has an average rating of “Hold” and an average target price of $8.38.
In other PennantPark Investment news, Chairman Arthur H. Penn purchased 14,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $7.14 per share, with a total value of $99,960.00. Following the transaction, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,380,947.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Arthur H. Penn acquired 12,000 shares of the stock in a transaction dated Friday, December 1st. The shares were purchased at an average price of $7.10 per share, for a total transaction of $85,200.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at $1,373,211. The disclosure for this purchase can be found here. Insiders have acquired a total of 48,000 shares of company stock worth $344,280 over the last three months. Insiders own 2.00% of the company’s stock.
A hedge fund recently bought a new stake in PennantPark Investment stock. Northern Trust Corp acquired a new position in shares of PennantPark Investment Corp. (NASDAQ:PNNT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 40,805 shares of the asset manager’s stock, valued at approximately $302,000. Institutional investors and hedge funds own 42.60% 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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