Two Sigma Investments LP Increases Stake in PennantPark Investment Co. (NASDAQ:PNNT)

Two Sigma Investments LP lifted its holdings in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 24.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 914,375 shares of the asset manager's stock after buying an additional 178,423 shares during the quarter. Two Sigma Investments LP owned about 1.40% of PennantPark Investment worth $6,474,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of PennantPark Investment in the 4th quarter valued at approximately $71,000. Raymond James Financial Inc. bought a new position in PennantPark Investment during the 4th quarter worth $632,000. Strategic Financial Concepts LLC acquired a new stake in shares of PennantPark Investment during the 4th quarter worth $115,000. Janney Montgomery Scott LLC boosted its stake in PennantPark Investment by 12.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager's stock valued at $927,000 after buying an additional 14,124 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of PennantPark Investment during the fourth quarter valued at about $389,000. 26.62% of the stock is owned by institutional investors.

PennantPark Investment Stock Performance

Shares of PNNT stock traded down $0.06 on Wednesday, hitting $6.69. 228,944 shares of the stock were exchanged, compared to its average volume of 497,109. The firm's 50 day moving average is $6.58 and its two-hundred day moving average is $6.87. The firm has a market capitalization of $436.50 million, a PE ratio of 25.71 and a beta of 1.02. 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 Co. has a one year low of $5.72 and a one year high of $8.04.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a dividend of $0.08 per share. 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 (DPR) is 640.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on PNNT. Compass Point restated 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. Wall Street Zen raised PennantPark Investment from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH raised PennantPark Investment to a "hold" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered their target price on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th.

Insider Buying and Selling

In other PennantPark Investment news, Director Jose A. Briones purchased 3,640 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $6.88 per share, with a total value of $25,043.20. Following the acquisition, the director now directly owns 268,972 shares in the company, valued at approximately $1,850,527.36. The trade was a 1.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

About PennantPark Investment

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.