PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.85 and traded as high as $6.98. PennantPark Investment shares last traded at $6.97, with a volume of 368,640 shares trading hands.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Compass Point restated a "sell" rating and issued a $5.75 target price (down from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. Wall Street Zen upgraded PennantPark Investment from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. LADENBURG THALM/SH SH upgraded PennantPark Investment to a "hold" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reduced their target price on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th.
Check Out Our Latest Stock Analysis on PennantPark Investment
PennantPark Investment Price Performance
The firm has a market cap of $464.58 million, a price-to-earnings ratio of 27.37 and a beta of 1.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50 day simple moving average of $6.74 and a 200-day simple moving average of $6.85.
PennantPark Investment Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.96 dividend on an annualized basis and a yield of 13.49%. PennantPark Investment's dividend payout ratio (DPR) is currently 640.00%.
Insider Transactions at PennantPark Investment
In related news, Director Jose A. Briones purchased 3,640 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $6.88 per share, for a total transaction of $25,043.20. Following the purchase, the director owned 268,972 shares of the company's stock, valued at approximately $1,850,527.36. This trade represents a 1.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company's stock.
Hedge Funds Weigh In On PennantPark Investment
A number of hedge funds have recently added to or reduced their stakes in PNNT. Quarry LP purchased a new position in shares of PennantPark Investment in the 1st quarter worth approximately $34,000. Ameriflex Group Inc. purchased a new position in shares of PennantPark Investment in the 4th quarter worth approximately $39,000. BNP Paribas Financial Markets purchased a new position in shares of PennantPark Investment in the 4th quarter worth approximately $80,000. Integrity Alliance LLC. purchased a new position in shares of PennantPark Investment in the 1st quarter worth approximately $83,000. Finally, Virtu Financial LLC purchased a new position in shares of PennantPark Investment in the 4th quarter worth approximately $95,000. Institutional investors and hedge funds own 26.62% of the company's stock.
PennantPark Investment Company Profile
(
Get 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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