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

Trexquant Investment LP lowered its position in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 44.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at approximately $39,000. BNP Paribas Financial Markets bought a new position in PennantPark Investment in the fourth quarter worth $80,000. Atria Wealth Solutions Inc. increased its holdings in shares of PennantPark Investment by 32.1% during the first quarter. Atria Wealth Solutions Inc. now owns 25,541 shares of the asset manager's stock valued at $182,000 after acquiring an additional 6,206 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of PennantPark Investment by 93.1% during the fourth quarter. Jane Street Group LLC now owns 27,598 shares of the asset manager's stock valued at $195,000 after acquiring an additional 13,307 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new stake in PennantPark Investment in the 1st quarter worth about $198,000. Hedge funds and other institutional investors own 26.62% of the company's stock.

PennantPark Investment Stock Up 0.3%

PennantPark Investment stock opened at $7.25 on Tuesday. The firm has a market cap of $473.07 million, a price-to-earnings ratio of 27.87 and a beta of 1.04. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $7.53. The business's 50-day moving average price is $7.19 and its 200 day moving average price is $6.89. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a $0.08 dividend. This represents a c) annualized dividend and a yield of 13.3%. The ex-dividend date of this dividend was Friday, August 15th. PennantPark Investment's dividend payout ratio (DPR) is presently 457.14%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNNT. Wall Street Zen upgraded PennantPark Investment from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on PennantPark Investment from $6.50 to $7.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $6.25 price objective (down previously from $6.50) on shares of PennantPark Investment in a research note on Wednesday, August 13th. LADENBURG THALM/SH SH raised PennantPark Investment to a "hold" rating in a research report on Wednesday, May 14th. Finally, Compass Point reaffirmed a "sell" rating and issued a $5.75 price objective (down previously from $6.00) on shares of PennantPark Investment in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target 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.

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