Aquatic Capital Management LLC Acquires New Shares in PennantPark Investment Co. (NASDAQ:PNNT)

Aquatic Capital Management LLC bought a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 54,984 shares of the asset manager's stock, valued at approximately $389,000. Aquatic Capital Management LLC owned 0.08% of PennantPark Investment at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PNNT. Sanctuary Advisors LLC acquired a new stake in shares of PennantPark Investment during the fourth quarter worth about $71,000. Grimes & Company Inc. acquired a new position in PennantPark Investment in the 4th quarter valued at about $443,000. Raymond James Financial Inc. purchased a new stake in PennantPark Investment during the 4th quarter valued at approximately $632,000. Strategic Financial Concepts LLC acquired a new stake in PennantPark Investment during the 4th quarter worth approximately $115,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of PennantPark Investment by 12.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager's stock valued at $927,000 after purchasing an additional 14,124 shares during the period. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Stock Up 1.2 %

Shares of PNNT stock traded up $0.08 on Thursday, hitting $6.49. The stock had a trading volume of 98,630 shares, compared to its average volume of 487,193. PennantPark Investment Co. has a 52-week low of $5.72 and a 52-week high of $8.04. The firm has a market capitalization of $423.77 million, a price-to-earnings ratio of 24.96 and a beta of 1.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock's 50 day moving average is $6.69 and its 200-day moving average is $6.89.

PennantPark Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.79%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Investment's payout ratio is currently 369.23%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. decreased their price target on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $6.00.

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.