AlphaCentric Advisors LLC Invests $700,000 in PennantPark Investment Co. $PNNT

AlphaCentric Advisors LLC purchased a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 155,950 shares of the asset manager’s stock, valued at approximately $700,000.

Other institutional investors have also recently made changes to their positions in the company. Closed End Fund Advisors Inc. purchased a new position in PennantPark Investment in the fourth quarter valued at $895,000. Fox Run Management L.L.C. acquired a new position in shares of PennantPark Investment during the fourth quarter valued at approximately $65,000. Kestra Advisory Services LLC purchased a new position in PennantPark Investment in the 4th quarter valued at $52,000. Advisory Services Network LLC purchased a new position in shares of PennantPark Investment in the third quarter worth about $38,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of PennantPark Investment during the 3rd quarter worth approximately $32,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Stock Performance

Shares of PNNT opened at $3.35 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average price of $3.69 and a 200 day moving average price of $4.63. The company has a market capitalization of $219.07 million, a price-to-earnings ratio of 12.90 and a beta of 0.58. PennantPark Investment Co. has a 52-week low of $3.30 and a 52-week high of $7.53.

PennantPark Investment Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a dividend yield of 1,422.0%. PennantPark Investment’s dividend payout ratio (DPR) is presently 228.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of PennantPark Investment from $5.00 to $4.50 and set an “underperform” rating on the stock in a research report on Thursday, April 16th. Truist Financial dropped their price objective on PennantPark Investment from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Oppenheimer cut their target price on shares of PennantPark Investment from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PennantPark Investment currently has a consensus rating of “Hold” and an average price target of $5.10.

About PennantPark Investment

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.