PennantPark Investment Corp. (NASDAQ:PNNT) has been assigned a $9.00 price objective by research analysts at Keefe, Bruyette & Woods in a research note issued on Monday. The firm presently has a “hold” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 18.58% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th. TheStreet lowered shares of PennantPark Investment Corp. from a “b-” rating to a “c+” rating in a research note on Tuesday, March 21st. Jefferies Group LLC restated a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment Corp. in a research note on Thursday, March 16th. Ladenburg Thalmann Financial Services lowered shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, February 9th. Finally, JMP Securities lowered shares of PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $7.94.

Analyst Recommendations for PennantPark Investment Corp. (NASDAQ:PNNT)

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) traded down 0.39% during midday trading on Monday, reaching $7.59. The company’s stock had a trading volume of 277,188 shares. The stock has a 50 day moving average of $7.88 and a 200-day moving average of $7.88. PennantPark Investment Corp. has a 1-year low of $6.26 and a 1-year high of $8.68.

PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings results on Monday, May 8th. The asset manager reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. PennantPark Investment Corp. had a net margin of 51.21% and a return on equity of 10.79%. The company had revenue of $33.70 million for the quarter, compared to analyst estimates of $33.29 million. During the same quarter last year, the business earned $0.29 earnings per share. PennantPark Investment Corp.’s revenue was down 13.8% compared to the same quarter last year. Analysts anticipate that PennantPark Investment Corp. will post $0.85 EPS for the current fiscal year.

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In related news, CEO Arthur H. Penn acquired 17,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $7.77 per share, for a total transaction of $132,090.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,400 shares of the company’s stock, valued at approximately $1,425,018. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn acquired 32,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $7.72 per share, with a total value of $247,040.00. Following the completion of the acquisition, the chairman now directly owns 183,400 shares of the company’s stock, valued at $1,415,848. The disclosure for this purchase can be found here. Insiders bought 77,000 shares of company stock valued at $596,970 over the last quarter. Insiders own 1.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of PNNT. Stephens Inc. AR boosted its stake in shares of PennantPark Investment Corp. by 4.6% in the third quarter. Stephens Inc. AR now owns 17,448 shares of the asset manager’s stock worth $131,000 after buying an additional 773 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of PennantPark Investment Corp. by 50.1% in the first quarter. Global X Management Co. LLC now owns 16,664 shares of the asset manager’s stock worth $136,000 after buying an additional 5,563 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of PennantPark Investment Corp. by 43.8% in the first quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock worth $147,000 after buying an additional 5,600 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of PennantPark Investment Corp. during the first quarter worth $217,000. Finally, Private Advisor Group LLC boosted its stake in shares of PennantPark Investment Corp. by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 28,440 shares of the asset manager’s stock worth $221,000 after buying an additional 764 shares during the last quarter. Hedge funds and other institutional investors own 35.40% of the company’s stock.

PennantPark Investment Corp. 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.

12 Month Chart for NASDAQ:PNNT

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