XTX Topco Ltd Purchases New Shares in PennantPark Investment Co. (NASDAQ:PNNT)

XTX Topco Ltd bought a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 45,210 shares of the asset manager's stock, valued at approximately $320,000. XTX Topco Ltd owned about 0.07% of PennantPark Investment at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNNT. Sterneck Capital Management LLC lifted its position in PennantPark Investment by 44.0% during the 4th quarter. Sterneck Capital Management LLC now owns 67,932 shares of the asset manager's stock worth $481,000 after acquiring an additional 20,770 shares during the period. Janney Montgomery Scott LLC lifted its position in PennantPark Investment by 12.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager's stock worth $927,000 after acquiring an additional 14,124 shares during the period. Cornerstone Wealth Management LLC lifted its position in PennantPark Investment by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 118,991 shares of the asset manager's stock worth $842,000 after acquiring an additional 3,210 shares during the period. Grimes & Company Inc. acquired a new stake in PennantPark Investment during the 4th quarter worth about $443,000. Finally, EMC Capital Management lifted its position in PennantPark Investment by 58.4% during the 4th quarter. EMC Capital Management now owns 31,789 shares of the asset manager's stock worth $225,000 after acquiring an additional 11,721 shares during the period. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price objective on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating and five have assigned 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 price target of $6.00.

PennantPark Investment Stock Performance

Shares of PNNT stock traded down $0.01 on Wednesday, hitting $6.52. The company had a trading volume of 358,085 shares, compared to its average volume of 486,301. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment Co. has a twelve month low of $5.72 and a twelve month high of $8.04. The company has a 50-day moving average price of $6.76 and a 200-day moving average price of $6.91. The firm has a market cap of $425.73 million, a P/E ratio of 25.08 and a beta of 1.09.

PennantPark Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.96 dividend on an annualized basis and a yield of 14.72%. PennantPark Investment's dividend payout ratio is currently 369.23%.

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.