Sunbelt Securities Inc. boosted its holdings in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 309.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,025 shares of the asset manager's stock after purchasing an additional 54,448 shares during the period. Sunbelt Securities Inc. owned about 0.11% of PennantPark Investment worth $506,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in PNNT. Ameriflex Group Inc. bought a new position in PennantPark Investment in the fourth quarter valued at $39,000. Sanctuary Advisors LLC bought a new position in PennantPark Investment in the fourth quarter valued at $71,000. BNP Paribas Financial Markets bought a new position in PennantPark Investment in the fourth quarter valued at $80,000. Virtu Financial LLC bought a new position in PennantPark Investment in the fourth quarter valued at $95,000. Finally, Crew Capital Management Ltd. bought a new position in PennantPark Investment in the fourth quarter valued at $110,000. Institutional investors own 26.62% of the company's stock.
Insider Buying and Selling
In other news, Director Jose A. Briones purchased 3,640 shares of PennantPark Investment stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $6.88 per share, for a total transaction of $25,043.20. Following the purchase, the director now directly owns 268,972 shares of the company's stock, valued at $1,850,527.36. This trade represents a 1.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.
PennantPark Investment Stock Performance
Shares of PNNT stock opened at $6.76 on Friday. The stock has a market cap of $441.07 million, a P/E ratio of 25.98 and a beta of 1.01. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day moving average price of $6.64 and a two-hundred day moving average price of $6.85. PennantPark Investment Co. has a one year low of $5.72 and a one year high of $8.04.
PennantPark Investment Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.21%. The ex-dividend date is Monday, June 16th. PennantPark Investment's dividend payout ratio is presently 640.00%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on PNNT. JPMorgan Chase & Co. decreased their target price 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. Compass Point reiterated a "sell" rating and issued a $5.75 price target (down previously from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. Wall Street Zen upgraded shares of PennantPark Investment from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, LADENBURG THALM/SH SH upgraded shares of PennantPark Investment to a "hold" rating in a research note on Wednesday, May 14th.
Read Our Latest Analysis on PennantPark Investment
About PennantPark Investment
(
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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Want to see what other hedge funds are holding PNNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennantPark Investment Co. (NASDAQ:PNNT - Free Report).
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