Aquatic Capital Management LLC Acquires Shares of 54,984 PennantPark Investment Co. (NASDAQ:PNNT)

Aquatic Capital Management LLC bought a new position in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 54,984 shares of the asset manager's stock, valued at approximately $389,000. Aquatic Capital Management LLC owned about 0.08% of PennantPark Investment as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in PennantPark Investment in the fourth quarter valued at about $632,000. Grimes & Company Inc. bought a new stake in PennantPark Investment during the 4th quarter valued at $443,000. XTX Topco Ltd purchased a new stake in shares of PennantPark Investment during the fourth quarter worth $320,000. LaSalle St. Investment Advisors LLC bought a new stake in shares of PennantPark Investment during the 4th quarter valued at $190,000. Finally, Truvestments Capital LLC lifted its holdings in PennantPark Investment by 5.8% during the 4th quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager's stock worth $2,710,000 after purchasing an additional 20,907 shares in the last quarter. 26.62% of the stock is currently owned by institutional investors.

PennantPark Investment Trading Down 1.7 %

PennantPark Investment stock traded down $0.11 during mid-day trading on Monday, hitting $6.42. The company's stock had a trading volume of 635,839 shares, compared to its average volume of 488,070. The business has a 50 day moving average price of $6.72 and a 200-day moving average price of $6.90. PennantPark Investment Co. has a 12 month low of $5.72 and a 12 month high of $8.04. The stock has a market cap of $419.20 million, a price-to-earnings ratio of 24.69 and a beta of 1.02. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.96 annualized dividend and a yield of 14.95%. PennantPark Investment's payout ratio is currently 369.23%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price target on shares of PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.00.

PennantPark Investment Profile

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.