PennantPark Investment Corp. (PNNT) Given Consensus Rating of “Hold” by Analysts

PennantPark Investment Corp. (NASDAQ:PNNT) has earned an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.38.

PNNT has been the subject of several recent analyst reports. Zacks Investment Research cut PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment in a research report on Thursday, October 26th. Jefferies Group reiterated a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment in a research report on Sunday, November 5th. ValuEngine upgraded PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Finally, TheStreet cut PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th.

In other PennantPark Investment news, Chairman Arthur H. Penn acquired 14,000 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was purchased at an average price of $7.14 per share, with a total value of $99,960.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,380,947.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Arthur H. Penn acquired 12,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average cost of $7.10 per share, with a total value of $85,200.00. Following the purchase, the chairman now owns 193,410 shares of the company’s stock, valued at $1,373,211. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 48,000 shares of company stock valued at $344,280. Corporate insiders own 2.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. LSV Asset Management boosted its stake in PennantPark Investment by 36.9% during the second quarter. LSV Asset Management now owns 2,741,127 shares of the asset manager’s stock valued at $20,256,000 after buying an additional 738,141 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in PennantPark Investment by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,866,419 shares of the asset manager’s stock valued at $14,016,000 after buying an additional 115,209 shares during the last quarter. Van ECK Associates Corp boosted its stake in PennantPark Investment by 13.5% during the second quarter. Van ECK Associates Corp now owns 616,534 shares of the asset manager’s stock valued at $4,556,000 after buying an additional 73,132 shares during the last quarter. Relative Value Partners Group LLC boosted its stake in PennantPark Investment by 72.0% during the third quarter. Relative Value Partners Group LLC now owns 539,102 shares of the asset manager’s stock valued at $4,049,000 after buying an additional 225,618 shares during the last quarter. Finally, B. Riley Financial Inc. boosted its stake in PennantPark Investment by 1.1% during the second quarter. B. Riley Financial Inc. now owns 346,270 shares of the asset manager’s stock valued at $2,559,000 after buying an additional 3,715 shares during the last quarter. 42.60% of the stock is owned by institutional investors.

PennantPark Investment (NASDAQ PNNT) opened at $6.90 on Friday. PennantPark Investment has a one year low of $6.67 and a one year high of $8.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $492.45, a price-to-earnings ratio of 8.02, a PEG ratio of 4.76 and a beta of 1.28.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results 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 return on equity of 8.72% and a net margin of 49.55%. The business had revenue of $27.87 million during the quarter, compared to analysts’ expectations of $29.19 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. research analysts expect that PennantPark Investment will post 0.73 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 26th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.43%. The ex-dividend date of this dividend was Friday, December 22nd. PennantPark Investment’s dividend payout ratio (DPR) is 83.72%.

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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.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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