Millennium Management LLC bought a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 437,489 shares of the asset manager's stock, valued at approximately $3,097,000. Millennium Management LLC owned about 0.67% of PennantPark Investment at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of PennantPark Investment during the 4th quarter worth approximately $71,000. BNP Paribas Financial Markets bought a new stake in PennantPark Investment in the 4th quarter valued at $80,000. Virtu Financial LLC bought a new stake in PennantPark Investment in the 4th quarter valued at $95,000. Crew Capital Management Ltd. bought a new stake in PennantPark Investment in the 4th quarter valued at $110,000. Finally, Strategic Financial Concepts LLC bought a new stake in PennantPark Investment in the 4th quarter valued at $115,000. 26.62% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other PennantPark Investment news, Director Jose A. Briones bought 3,640 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average price of $6.88 per share, with a total value of $25,043.20. Following the completion of the purchase, the director now directly owns 268,972 shares of the company's stock, valued at approximately $1,850,527.36. This trade represents a 1.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.00% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on PNNT. LADENBURG THALM/SH SH upgraded PennantPark Investment to a "hold" rating in a research note on Wednesday, May 14th. Compass Point restated a "sell" rating and issued a $5.75 price target (down from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised PennantPark Investment from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th.
View Our Latest Report on PNNT
PennantPark Investment Trading Up 0.1%
Shares of PNNT stock traded up $0.01 on Tuesday, hitting $6.72. The company had a trading volume of 222,754 shares, compared to its average volume of 497,648. The firm has a market cap of $438.79 million, a P/E ratio of 25.85 and a beta of 1.02. The stock's 50-day moving average is $6.55 and its two-hundred day moving average is $6.86. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. PennantPark Investment Co. has a twelve month low of $5.72 and a twelve month high of $8.04.
PennantPark Investment Announces Dividend
The business also recently declared a monthly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 14.29%. PennantPark Investment's payout ratio is 640.00%.
PennantPark Investment Company Profile
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Free Report)
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.
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