PennantPark Investment Corporation (NASDAQ:PNNT) issued its quarterly earnings results on Monday. The asset manager reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.02, Bloomberg Earnings reports. The business had revenue of $31.10 million for the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a return on equity of 9.98% and a net margin of 58.91%. PennantPark Investment Corporation’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS.

PennantPark Investment Corporation (NASDAQ:PNNT) traded down 1.21% during trading on Monday, reaching $7.35. 268,507 shares of the company traded hands. The firm’s 50 day moving average price is $7.44 and its 200 day moving average price is $7.82. PennantPark Investment Corporation has a 12-month low of $6.86 and a 12-month high of $8.68.

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PNNT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.50 price target on shares of PennantPark Investment Corporation in a report on Friday, April 21st. Zacks Investment Research lowered shares of PennantPark Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Compass Point initiated coverage on shares of PennantPark Investment Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $8.50 price target on the stock. JMP Securities lowered shares of PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $8.00 price target on shares of PennantPark Investment Corporation in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.19.

In other news, CEO Arthur H. Penn purchased 17,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $7.77 per share, with a total value of $132,090.00. Following the transaction, the chief executive officer now directly owns 183,400 shares of the company’s stock, valued at approximately $1,425,018. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Arthur H. Penn purchased 32,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $7.72 per share, with a total value of $247,040.00. Following the transaction, the chairman now directly owns 183,400 shares in the company, valued at $1,415,848. The disclosure for this purchase can be found here. Insiders have acquired a total of 77,000 shares of company stock valued at $596,970 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of PennantPark Investment Corporation by 29.0% in the first quarter. Van ECK Associates Corp now owns 543,402 shares of the asset manager’s stock valued at $4,423,000 after buying an additional 122,222 shares during the last quarter. Muzinich & Co. Inc. boosted its stake in shares of PennantPark Investment Corporation by 67.2% in the first quarter. Muzinich & Co. Inc. now owns 2,186,589 shares of the asset manager’s stock valued at $17,799,000 after buying an additional 878,491 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of PennantPark Investment Corporation during the first quarter valued at $2,166,000. Stifel Financial Corp boosted its stake in shares of PennantPark Investment Corporation by 43.8% in the first quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock valued at $147,000 after buying an additional 5,600 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of PennantPark Investment Corporation by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 1,900,325 shares of the asset manager’s stock valued at $15,469,000 after buying an additional 101,690 shares during the last quarter. 43.84% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Corporation 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.

Earnings History for PennantPark Investment Corporation (NASDAQ:PNNT)

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