Caxton Associates LLP Acquires Shares of 48,210 PennantPark Investment Co. $PNNT

Key Points

• Caxton Associates LLP has purchased a new stake in PennantPark Investment Co. (PNNT), acquiring 48,210 shares valued at approximately $339,000, representing about 0.07% ownership.
• PennantPark recently declared a monthly dividend of $0.08 per share, which translates to an impressive annualized yield of 13.5%, despite a high dividend payout ratio of 457.14%.
• Analysts have varying outlooks on PNNT, with target prices ranging from $5.75 to $7.00 and a consensus rating of "Reduce", reflecting cautious sentiment on the stock's performance.

Caxton Associates LLP purchased a new position in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 48,210 shares of the asset manager's stock, valued at approximately $339,000. Caxton Associates LLP owned 0.07% of PennantPark Investment at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in PennantPark Investment by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,882 shares of the asset manager's stock worth $252,000 after acquiring an additional 2,445 shares during the period. Millennium Management LLC bought a new position in PennantPark Investment in the fourth quarter worth approximately $3,097,000. Sunbelt Securities Inc. increased its stake in shares of PennantPark Investment by 309.8% in the first quarter. Sunbelt Securities Inc. now owns 72,025 shares of the asset manager's stock worth $506,000 after purchasing an additional 54,448 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PennantPark Investment in the fourth quarter worth $2,470,000. Finally, Bank of America Corp DE increased its stake in shares of PennantPark Investment by 33.6% in the fourth quarter. Bank of America Corp DE now owns 107,104 shares of the asset manager's stock worth $758,000 after purchasing an additional 26,953 shares in the last quarter. 26.62% of the stock is currently owned by institutional investors.

PennantPark Investment Price Performance

PNNT stock traded up $0.13 during trading on Thursday, hitting $6.93. 479,156 shares of the company's stock traded hands, compared to its average volume of 485,524. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $7.53. 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 business has a fifty day simple moving average of $7.20 and a 200 day simple moving average of $6.89. The stock has a market capitalization of $452.76 million, a price-to-earnings ratio of 26.67 and a beta of 1.04.

PennantPark Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a c) annualized dividend and a yield of 13.8%. PennantPark Investment's dividend payout ratio (DPR) is 457.14%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNNT. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $6.25 price objective (down from $6.50) on shares of PennantPark Investment in a research note on Wednesday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of PennantPark Investment from $6.50 to $7.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Compass Point reissued a "sell" rating and issued a $5.75 price objective (down from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $6.33.

PennantPark Investment Company 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.