PennantPark Investment (NASDAQ:PNNT) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment in a research report on Thursday, October 26th. Zacks Investment Research raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Jefferies Group reissued a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment in a research report on Sunday, November 5th. BidaskClub raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co raised shares of PennantPark Investment from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $8.00 to $8.50 in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.50.

PennantPark Investment (PNNT) traded down $0.04 during mid-day trading on Friday, hitting $7.18. 1,322,175 shares of the stock were exchanged, compared to its average volume of 244,724. The company has a market cap of $513.06, a PE ratio of 9.14, a PEG ratio of 4.71 and a beta of 1.28. The company has a quick ratio of 4.54, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment has a one year low of $6.67 and a one year high of $8.68.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $29.19 million. PennantPark Investment had a return on equity of 8.72% and a net margin of 49.55%. PennantPark Investment’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. research analysts forecast that PennantPark Investment will post 0.77 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. lifted its position in PennantPark Investment by 0.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock valued at $167,000 after acquiring an additional 169 shares in the last quarter. Stephens Inc. AR lifted its position in PennantPark Investment by 44.8% in the 2nd quarter. Stephens Inc. AR now owns 23,964 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 7,414 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its position in PennantPark Investment by 49.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 8,165 shares in the last quarter. Stevens Capital Management LP bought a new position in PennantPark Investment in the 3rd quarter valued at about $199,000. Finally, Stifel Financial Corp lifted its position in PennantPark Investment by 50.5% in the 2nd quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 9,300 shares in the last quarter. 42.64% of the stock is currently owned by institutional investors and hedge funds.

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PennantPark Investment 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.

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Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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