PennantPark Investment Corporation (NASDAQ:PNNT)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Sunday. They currently have a $8.00 price objective on the asset manager’s stock. Jefferies Group LLC’s price target suggests a potential upside of 7.67% from the company’s previous close.

A number of other analysts have also commented on the company. Zacks Investment Research lowered PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 target price on shares of PennantPark Investment Corporation in a research report on Thursday, October 26th. BidaskClub lowered PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. J P Morgan Chase & Co raised PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $8.50 in a research report on Wednesday, August 9th. Finally, Compass Point assumed coverage on PennantPark Investment Corporation in a research report on Thursday, July 13th. They issued a “buy” rating and a $8.50 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. PennantPark Investment Corporation has an average rating of “Hold” and a consensus price target of $8.07.

Shares of PennantPark Investment Corporation (PNNT) opened at $7.43 on Friday. PennantPark Investment Corporation has a 12-month low of $6.86 and a 12-month high of $8.68. The company has a market capitalization of $527.98, a PE ratio of 8.95, a P/E/G ratio of 4.84 and a beta of 1.30. The company has a debt-to-equity ratio of 0.84, a current ratio of 4.54 and a quick ratio of 4.54.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its 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 net margin of 53.92% and a return on equity of 9.11%. The firm had revenue of $31.10 million during the quarter, compared to the consensus estimate of $31.09 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was down 12.4% on a year-over-year basis. equities analysts anticipate that PennantPark Investment Corporation will post 0.83 earnings per share for the current fiscal year.

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In related news, Chairman Arthur H. Penn purchased 32,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $7.72 per share, for a total transaction of $247,040.00. Following the purchase, the chairman now owns 183,400 shares of the company’s stock, valued at $1,415,848. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $7.62 per share, with a total value of $213,360.00. Following the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,473,784.20. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its stake in PennantPark Investment Corporation by 43.8% during the 1st quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock valued at $147,000 after purchasing an additional 5,600 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of PennantPark Investment Corporation by 0.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock worth $167,000 after buying an additional 169 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of PennantPark Investment Corporation by 44.8% in the 2nd quarter. Stephens Inc. AR now owns 23,964 shares of the asset manager’s stock worth $177,000 after buying an additional 7,414 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its stake in shares of PennantPark Investment Corporation by 49.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock worth $186,000 after buying an additional 8,165 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of PennantPark Investment Corporation in the 3rd quarter worth approximately $199,000. Institutional investors and hedge funds own 41.86% of the company’s stock.

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.

Analyst Recommendations for PennantPark Investment Corporation (NASDAQ:PNNT)

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