PennantPark Investment (PNNT) Upgraded at BidaskClub

BidaskClub upgraded shares of PennantPark Investment (NASDAQ:PNNT) from a strong sell rating to a sell rating in a report issued on Saturday morning.

Several other equities analysts have also issued reports on PNNT. Keefe, Bruyette & Woods reissued a hold rating and issued a $8.50 price target on shares of PennantPark Investment in a research note on Thursday, October 26th. Zacks Investment Research lowered PennantPark Investment from a hold rating to a sell rating in a research note on Saturday, November 4th. Jefferies Group reissued a hold rating and issued a $8.00 price target on shares of PennantPark Investment in a research note on Sunday, November 5th. ValuEngine raised PennantPark Investment from a buy rating to a strong-buy rating in a research note on Friday, December 1st. Finally, TheStreet downgraded PennantPark Investment from a b- rating to a c rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $8.30.

PennantPark Investment (NASDAQ:PNNT) opened at $6.98 on Friday. PennantPark Investment has a 12 month low of $6.29 and a 12 month high of $8.68. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $496.00, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 4.76 and a beta of 1.22.

PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a return on equity of 8.58% and a net margin of 41.17%. The firm had revenue of $28.67 million for the quarter, compared to analyst estimates of $28.12 million. During the same period in the previous year, the firm earned $0.21 earnings per share. The company’s revenue was down 10.0% compared to the same quarter last year. equities research analysts anticipate that PennantPark Investment will post 0.73 EPS for the current year.

In other news, Chairman Arthur H. Penn acquired 12,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of $7.10 per share, for a total transaction of $85,200.00. Following the completion of the acquisition, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,373,211. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Arthur H. Penn acquired 14,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $7.14 per share, with a total value of $99,960.00. Following the acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at $1,380,947.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 58,000 shares of company stock valued at $413,680. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of PennantPark Investment by 49.3% during the second quarter. Goldman Sachs Group Inc. now owns 168,903 shares of the asset manager’s stock valued at $1,248,000 after acquiring an additional 55,761 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in PennantPark Investment by 83.5% during the third quarter. Pinebridge Investments L.P. now owns 41,428 shares of the asset manager’s stock worth $311,000 after buying an additional 18,848 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in PennantPark Investment by 28.3% during the third quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock worth $1,421,000 after buying an additional 41,692 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in PennantPark Investment by 46.2% during the second quarter. Parametric Portfolio Associates LLC now owns 154,128 shares of the asset manager’s stock worth $1,139,000 after buying an additional 48,729 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in PennantPark Investment by 15.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 140,223 shares of the asset manager’s stock worth $1,053,000 after buying an additional 18,962 shares in the last quarter. Hedge funds and other institutional investors own 42.80% of the company’s stock.

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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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