Trexquant Investment LP Sells 49,039 Shares of PennantPark Investment Co. $PNNT

Trexquant Investment LP lowered its holdings in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,214 shares of the asset manager's stock after selling 49,039 shares during the quarter. Trexquant Investment LP owned approximately 0.10% of PennantPark Investment worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNNT. Ameriflex Group Inc. acquired a new stake in PennantPark Investment during the fourth quarter worth about $39,000. BNP Paribas Financial Markets acquired a new position in shares of PennantPark Investment during the 4th quarter worth $80,000. Atria Wealth Solutions Inc. boosted its stake in shares of PennantPark Investment by 32.1% during the 1st quarter. Atria Wealth Solutions Inc. now owns 25,541 shares of the asset manager's stock worth $182,000 after purchasing an additional 6,206 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of PennantPark Investment by 93.1% during the 4th quarter. Jane Street Group LLC now owns 27,598 shares of the asset manager's stock worth $195,000 after acquiring an additional 13,307 shares during the period. Finally, Ethos Financial Group LLC purchased a new position in PennantPark Investment in the first quarter valued at approximately $198,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PennantPark Investment Stock Down 0.1%

Shares of NASDAQ:PNNT traded down $0.01 during trading on Friday, hitting $7.11. 536,774 shares of the company were exchanged, compared to its average volume of 482,723. The stock has a market cap of $463.93 million, a price-to-earnings ratio of 27.33 and a beta of 1.04. PennantPark Investment Co. has a fifty-two week low of $5.72 and a fifty-two week high of $7.53. The firm has a fifty day moving average price of $7.20 and a two-hundred day moving average price of $6.89. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.5%. PennantPark Investment's payout ratio is presently 457.14%.

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.