PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PNNT. 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. JPMorgan Chase & Co. reduced their price objective 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. Finally, Compass Point restated a "sell" rating and issued a $5.75 price objective (down from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st.
Get Our Latest Stock Analysis on PennantPark Investment
PennantPark Investment Price Performance
The company has a market cap of $469.15 million, a P/E ratio of 27.64 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 firm's fifty day moving average is $6.74 and its two-hundred day moving average is $6.85.
PennantPark Investment Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 13.36%. The ex-dividend date is Tuesday, July 15th. PennantPark Investment's dividend payout ratio is currently 640.00%.
Insiders Place Their Bets
In other news, Director Jose A. Briones bought 3,640 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $6.88 per share, with a total value of $25,043.20. Following the acquisition, the director owned 268,972 shares of the company's stock, valued at approximately $1,850,527.36. This represents a 1.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC bought a new position in shares of PennantPark Investment during the 4th quarter valued at about $3,097,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PennantPark Investment during the 4th quarter valued at about $2,470,000. Truvestments Capital LLC boosted its holdings in shares of PennantPark Investment by 55.8% during the 1st quarter. Truvestments Capital LLC now owns 596,573 shares of the asset manager's stock valued at $4,194,000 after purchasing an additional 213,773 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of PennantPark Investment by 24.2% during the 4th quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager's stock valued at $6,474,000 after purchasing an additional 178,423 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of PennantPark Investment by 10.7% during the 4th quarter. Two Sigma Advisers LP now owns 1,318,818 shares of the asset manager's stock valued at $9,337,000 after purchasing an additional 127,100 shares during the last quarter. Institutional investors own 26.62% of the company's stock.
PennantPark Investment Company Profile
(
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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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