$28.30 Million in Sales Expected for PennantPark Investment Corp. (PNNT) This Quarter
Analysts expect that PennantPark Investment Corp. (NASDAQ:PNNT) will post $28.30 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for PennantPark Investment’s earnings. The lowest sales estimate is $27.64 million and the highest is $29.41 million. PennantPark Investment posted sales of $31.87 million in the same quarter last year, which suggests a negative year over year growth rate of 11.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 14th.
On average, analysts expect that PennantPark Investment will report full year sales of $28.30 million for the current financial year, with estimates ranging from $112.82 million to $120.22 million. For the next fiscal year, analysts anticipate that the business will post sales of $119.60 million per share, with estimates ranging from $113.30 million to $129.49 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $27.87 million during 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%. The firm’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS.
Shares of PennantPark Investment (NASDAQ PNNT) traded up $0.01 during trading hours on Monday, reaching $7.20. The company’s stock had a trading volume of 363,500 shares, compared to its average volume of 334,495. The company has a market capitalization of $511.64, a price-to-earnings ratio of 9.11, a P/E/G ratio of 4.95 and a beta of 1.27. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment has a 1-year low of $6.67 and a 1-year high of $8.68.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 26th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 22nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.00%. PennantPark Investment’s dividend payout ratio is presently 83.72%.
In other PennantPark Investment news, Chairman Arthur H. Penn purchased 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was bought at an average cost of $7.31 per share, with a total value of $87,720.00. Following the completion of the transaction, the chairman now owns 193,410 shares of the company’s stock, valued at approximately $1,413,827.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Arthur H. Penn purchased 14,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average cost of $7.14 per share, with a total value of $99,960.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,380,947.40. The disclosure for this purchase can be found here. Insiders bought 48,000 shares of company stock worth $344,280 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Shelton Capital Management purchased a new stake in shares of PennantPark Investment during the third quarter valued at approximately $233,000. Belpointe Asset Management LLC purchased a new stake in shares of PennantPark Investment during the third quarter valued at approximately $230,000. California Public Employees Retirement System increased its position in shares of PennantPark Investment by 29.6% during the third quarter. California Public Employees Retirement System now owns 54,700 shares of the asset manager’s stock valued at $411,000 after acquiring an additional 12,500 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of PennantPark Investment by 28.3% during the third quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock valued at $1,421,000 after acquiring an additional 41,692 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of PennantPark Investment by 15.6% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 140,223 shares of the asset manager’s stock valued at $1,053,000 after acquiring an additional 18,962 shares during the last quarter. 42.62% of the stock is owned by institutional investors.
About PennantPark Investment
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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