PennantPark Investment Corporation (NASDAQ:PNNT) Chairman Arthur H. Penn acquired 14,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was purchased at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the acquisition, the chairman now owns 193,410 shares in the company, valued at $1,380,947.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of PennantPark Investment Corporation (PNNT) traded down $0.01 on Tuesday, reaching $7.17. 694,900 shares of the company were exchanged, compared to its average volume of 331,421. The company has a market cap of $510.22, a price-to-earnings ratio of 9.09, a PEG ratio of 4.80 and a beta of 1.27. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment Corporation has a 12-month low of $6.67 and a 12-month high of $8.68.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business had revenue of $27.87 million for the quarter, compared to the consensus estimate of $29.19 million. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. research analysts anticipate that PennantPark Investment Corporation will post 0.75 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Pinebridge Investments L.P. boosted its position in shares of PennantPark Investment by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock valued at $167,000 after purchasing an additional 169 shares in the last quarter. Stephens Inc. AR boosted its position in shares of PennantPark Investment by 44.8% during the 2nd quarter. Stephens Inc. AR now owns 23,964 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 7,414 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its position in shares of PennantPark Investment by 49.0% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 8,165 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of PennantPark Investment during the 3rd quarter valued at about $199,000. Finally, Stifel Financial Corp boosted its position in shares of PennantPark Investment by 50.5% during the 2nd quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 9,300 shares in the last quarter. Institutional investors own 42.62% of the company’s stock.

PNNT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment in a report on Sunday, November 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 price objective on shares of PennantPark Investment in a report on Thursday, October 26th. BidaskClub lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, ValuEngine upgraded shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $8.50.

TRADEMARK VIOLATION NOTICE: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/12/05/arthur-h-penn-acquires-14000-shares-of-pennantpark-investment-corporation-pnnt-stock.html.

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.

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

Receive News & Ratings for PennantPark Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.