PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) Director Jose A. Briones purchased 3,675 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average price of $6.79 per share, with a total value of $24,953.25. Following the purchase, the director now owns 265,332 shares in the company, valued at $1,801,604.28. This represents a 1.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
PennantPark Investment Stock Performance
Shares of NASDAQ:PNNT opened at $6.71 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. PennantPark Investment Co. has a 1 year low of $6.31 and a 1 year high of $8.04. The firm has a market capitalization of $438.16 million, a PE ratio of 39.47 and a beta of 1.49. The business's 50 day moving average price is $6.93 and its 200-day moving average price is $7.15.
PennantPark Investment Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.31%. The ex-dividend date of this dividend was Friday, November 15th. PennantPark Investment's dividend payout ratio is currently 564.74%.
Hedge Funds Weigh In On PennantPark Investment
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Institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC acquired a new stake in PennantPark Investment in the 1st quarter valued at about $748,000. Condor Capital Management lifted its position in PennantPark Investment by 81.9% during the second quarter. Condor Capital Management now owns 519,177 shares of the asset manager's stock worth $3,920,000 after buying an additional 233,685 shares in the last quarter. International Assets Investment Management LLC lifted its position in PennantPark Investment by 599.0% during the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager's stock worth $1,532,000 after buying an additional 187,787 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in PennantPark Investment by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager's stock worth $416,000 after buying an additional 3,402 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in PennantPark Investment by 14.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 661,933 shares of the asset manager's stock valued at $4,998,000 after buying an additional 83,483 shares in the last quarter. 26.62% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on PNNT. LADENBURG THALM/SH SH lowered PennantPark Investment from a "buy" rating to a "neutral" rating in a research report on Wednesday, November 27th. Compass Point raised shares of PennantPark Investment from a "sell" rating to a "neutral" rating and set a $6.00 price objective on the stock in a report on Monday, September 9th. Finally, StockNews.com cut shares of PennantPark Investment from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.00.
Read Our Latest Stock Report on PNNT
About PennantPark Investment
(
Get Free Report)
PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.
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