Two Sigma Investments LP lifted its position in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 914,375 shares of the asset manager's stock after acquiring an additional 178,423 shares during the quarter. Two Sigma Investments LP owned 1.40% of PennantPark Investment worth $6,474,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PNNT. Sanctuary Advisors LLC acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $71,000. BNP Paribas Financial Markets acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $80,000. Virtu Financial LLC acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $95,000. Crew Capital Management Ltd. acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $110,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $115,000. 26.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on PNNT shares. JPMorgan Chase & Co. lowered their price target on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. LADENBURG THALM/SH SH upgraded PennantPark Investment to a "hold" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded PennantPark Investment from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Compass Point reiterated a "sell" rating and set a $5.75 price objective (down previously from $6.00) on shares of PennantPark Investment in a research report on Wednesday, May 21st.
View Our Latest Report on PennantPark Investment
Insider Buying and Selling at PennantPark Investment
In other PennantPark Investment news, Director Jose A. Briones bought 3,640 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $6.88 per share, for a total transaction of $25,043.20. Following the completion of the purchase, the director now directly owns 268,972 shares in the company, valued at $1,850,527.36. This trade represents a 1.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company's stock.
PennantPark Investment Trading Up 0.8%
NASDAQ:PNNT traded up $0.06 on Friday, reaching $6.69. The company's stock had a trading volume of 327,392 shares, compared to its average volume of 498,823. PennantPark Investment Co. has a 12-month low of $5.72 and a 12-month high of $8.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm has a market cap of $436.50 million, a price-to-earnings ratio of 25.71 and a beta of 1.02. The stock has a 50 day moving average price of $6.56 and a 200 day moving average price of $6.86.
PennantPark Investment Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 14.36%. PennantPark Investment's dividend payout ratio is currently 640.00%.
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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