PennantPark Investment Corporation (NASDAQ:PNNT) Chairman Arthur H. Penn purchased 28,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average price of $7.62 per share, for a total transaction of $213,360.00. Following the transaction, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,473,784.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

PennantPark Investment Corporation (NASDAQ PNNT) traded down 1.04% during mid-day trading on Tuesday, hitting $7.61. 235,077 shares of the stock traded hands. PennantPark Investment Corporation has a 1-year low of $6.86 and a 1-year high of $8.68. The company has a 50-day moving average of $7.48 and a 200 day moving average of $7.81.

PennantPark Investment Corporation (NASDAQ:PNNT) last announced its quarterly earnings results on Monday, August 7th. The asset manager reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.02. PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The business had revenue of $31.10 million during the quarter, compared to analysts’ expectations of $31.09 million. During the same period in the previous year, the business earned $0.25 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts forecast that PennantPark Investment Corporation will post $0.83 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Wednesday, May 3rd. J P Morgan Chase & Co upgraded shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $8.50 in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 price target on shares of PennantPark Investment Corporation and gave the stock a “hold” rating in a research report on Monday, May 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment Corporation in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. PennantPark Investment Corporation presently has an average rating of “Hold” and an average price target of $8.19.

Hedge funds have recently made changes to their positions in the company. LSV Asset Management raised its stake in shares of PennantPark Investment Corporation by 36.9% in the second quarter. LSV Asset Management now owns 2,741,127 shares of the asset manager’s stock worth $20,256,000 after buying an additional 738,141 shares during the last quarter. Muzinich & Co. Inc. raised its position 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 in the last quarter. JPMorgan Chase & Co. raised its position 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 in the last quarter. UBS Group AG raised its position in shares of PennantPark Investment Corporation by 28.4% in the first quarter. UBS Group AG now owns 1,520,945 shares of the asset manager’s stock valued at $12,381,000 after buying an additional 336,001 shares in the last quarter. Finally, Confluence Investment Management LLC raised its position in shares of PennantPark Investment Corporation by 0.5% in the second quarter. Confluence Investment Management LLC now owns 929,249 shares of the asset manager’s stock valued at $6,867,000 after buying an additional 4,599 shares in the last quarter. 43.81% of the stock is owned by institutional investors.

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.

Insider Buying and Selling by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

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