Truvestments Capital LLC grew its holdings in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 55.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596,573 shares of the asset manager's stock after acquiring an additional 213,773 shares during the period. Truvestments Capital LLC owned about 0.91% of PennantPark Investment worth $4,194,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of PennantPark Investment in the 4th quarter valued at $39,000. BNP Paribas Financial Markets purchased a new stake in shares of PennantPark Investment in the 4th quarter valued at $80,000. Atria Wealth Solutions Inc. boosted its holdings in shares of PennantPark Investment by 32.1% in the 1st 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 during the last quarter. Jane Street Group LLC boosted its holdings in shares of PennantPark Investment by 93.1% in the 4th 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 during the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in PennantPark Investment during the first quarter worth $198,000. 26.62% of the stock is owned by hedge funds and other institutional investors.
PennantPark Investment Price Performance
PNNT traded down $0.03 during midday trading on Monday, hitting $7.18. 660,030 shares of the company traded hands, compared to its average volume of 481,901. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $468.50 million, a price-to-earnings ratio of 27.60 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 has a 50 day simple moving average of $7.13 and a two-hundred day simple moving average of $6.89.
PennantPark Investment Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Friday, August 15th. PennantPark Investment's dividend payout ratio (DPR) is presently 457.14%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of PennantPark Investment from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $6.25 price target (down from $6.50) on shares of PennantPark Investment in a report on Wednesday, August 13th. Compass Point reissued a "sell" rating and set a $5.75 price target (down from $6.00) on shares of PennantPark Investment in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target 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. Finally, LADENBURG THALM/SH SH raised shares of PennantPark Investment to a "hold" rating in a report on Wednesday, May 14th. 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 company has a consensus rating of "Reduce" and a consensus price target of $6.33.
Check Out Our Latest Research Report on PennantPark Investment
PennantPark Investment Profile
(
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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