Arthur H. Penn Acquires 14,000 Shares of PennantPark Investment Corporation (PNNT) Stock
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.
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.
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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