PennantPark Investment (NASDAQ:PNNT) Cut to “Neutral” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH cut shares of PennantPark Investment (NASDAQ:PNNT) from a buy rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports.

Other research analysts have also issued reports about the stock. Compass Point raised shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a report on Monday, September 9th. StockNews.com lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, PennantPark Investment has a consensus rating of “Hold” and an average target price of $6.00.

PennantPark Investment Trading Up 0.3 %

NASDAQ PNNT opened at $6.77 on Wednesday. PennantPark Investment has a one year low of $6.31 and a one year high of $8.04. The company has a 50-day simple moving average of $6.95 and a 200-day simple moving average of $7.17. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.90 and a current ratio of 0.51. The firm has a market capitalization of $442.08 million, a PE ratio of 39.71 and a beta of 1.52.

PennantPark Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 14.18%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Investment’s payout ratio is 564.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC acquired a new position in PennantPark Investment during the 1st quarter valued at about $748,000. Condor Capital Management boosted its stake in PennantPark Investment by 81.9% during the 2nd quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock valued at $3,920,000 after purchasing an additional 233,685 shares during the period. International Assets Investment Management LLC raised its position in shares of PennantPark Investment by 599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock worth $1,532,000 after buying an additional 187,787 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of PennantPark Investment by 6.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock worth $416,000 after buying an additional 3,402 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of PennantPark Investment by 14.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 661,933 shares of the asset manager’s stock worth $4,998,000 after buying an additional 83,483 shares in the last quarter. 26.62% of the stock is owned by institutional investors and hedge funds.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.