PennantPark Investment Corp. (PNNT) Chairman Arthur H. Penn Purchases 10,000 Shares

PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn bought 10,000 shares of PennantPark Investment stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $6.94 per share, for a total transaction of $69,400.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares in the company, valued at $1,342,265.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of PennantPark Investment Corp. (NASDAQ PNNT) traded up $0.08 during mid-day trading on Monday, reaching $6.98. 465,271 shares of the company traded hands, compared to its average volume of 378,988. PennantPark Investment Corp. has a one year low of $6.29 and a one year high of $8.68. The stock has a market cap of $490.32, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 4.76 and a beta of 1.22. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.79.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The company had revenue of $28.67 million for the quarter, compared to the consensus estimate of $28.12 million. During the same period in the prior year, the firm posted $0.21 EPS. PennantPark Investment’s revenue for the quarter was down 10.0% on a year-over-year basis. analysts anticipate that PennantPark Investment Corp. will post 0.73 EPS for the current year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Friday. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Saturday. ValuEngine downgraded shares of PennantPark Investment from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 target price on shares of PennantPark Investment in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. PennantPark Investment presently has an average rating of “Hold” and a consensus price target of $8.30.

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in PennantPark Investment by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,866,419 shares of the asset manager’s stock valued at $14,016,000 after purchasing an additional 115,209 shares during the last quarter. Relative Value Partners Group LLC grew its position in PennantPark Investment by 72.0% during the 3rd quarter. Relative Value Partners Group LLC now owns 539,102 shares of the asset manager’s stock valued at $4,049,000 after purchasing an additional 225,618 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in PennantPark Investment by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock valued at $3,220,000 after purchasing an additional 299,280 shares during the last quarter. BlackRock Inc. lifted its stake in PennantPark Investment by 8.3% during the 4th quarter. BlackRock Inc. now owns 453,436 shares of the asset manager’s stock valued at $3,133,000 after acquiring an additional 34,870 shares during the period. Finally, B. Riley Financial Inc. lifted its stake in PennantPark Investment by 15.6% during the 4th quarter. B. Riley Financial Inc. now owns 404,820 shares of the asset manager’s stock valued at $2,797,000 after acquiring an additional 54,550 shares during the period. 42.80% of the stock is currently owned by institutional investors.

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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.

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