Schonfeld Strategic Advisors LLC acquired a new stake in PennantPark Investment Co. (NASDAQ:PNNT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,800 shares of the asset manager’s stock, valued at approximately $60,000.
Other institutional investors have also added to or reduced their stakes in the company. XTX Markets LLC bought a new position in shares of PennantPark Investment in the third quarter valued at $34,000. Two Sigma Securities LLC purchased a new stake in shares of PennantPark Investment in the third quarter valued at about $39,000. Goldman Sachs Group Inc. purchased a new stake in shares of PennantPark Investment in the second quarter valued at about $44,000. Cerity Partners LLC purchased a new stake in shares of PennantPark Investment in the third quarter valued at about $54,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of PennantPark Investment by 12.6% in the third quarter. Great West Life Assurance Co. Can now owns 28,570 shares of the asset manager’s stock valued at $91,000 after purchasing an additional 3,191 shares during the last quarter. 32.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PNNT opened at $4.61 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $309.08 million, a PE ratio of -18.44 and a beta of 1.63. PennantPark Investment Co. has a twelve month low of $1.76 and a twelve month high of $6.74. The company has a 50-day moving average price of $4.35 and a two-hundred day moving average price of $3.56.
PennantPark Investment (NASDAQ:PNNT) last issued its earnings results on Wednesday, November 18th. The asset manager reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $21.28 million for the quarter, compared to the consensus estimate of $23.84 million. PennantPark Investment had a positive return on equity of 7.43% and a negative net margin of 16.10%. Analysts anticipate that PennantPark Investment Co. will post 0.62 earnings per share for the current fiscal year.
In other PennantPark Investment news, Director Samuel L. Katz bought 9,490 shares of the business’s stock in a transaction on Tuesday, December 15th. The stock was purchased at an average price of $4.47 per share, for a total transaction of $42,420.30. Following the completion of the transaction, the director now directly owns 29,210 shares of the company’s stock, valued at $130,568.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by company insiders.
Several brokerages have recently commented on PNNT. BidaskClub upgraded shares of PennantPark Investment from a “hold” rating to a “buy” rating in a report on Friday. Keefe, Bruyette & Woods upgraded shares of PennantPark Investment from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $4.00 to $5.25 in a report on Sunday, November 22nd. LADENBURG THALM/SH SH upgraded shares of PennantPark Investment from a “neutral” rating to a “buy” rating in a report on Friday, November 20th. ValuEngine upgraded shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Finally, Compass Point upgraded shares of PennantPark Investment from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $3.50 to $4.75 in a report on Thursday, November 19th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.42.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a business development company. It specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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