PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report)'s stock price 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 changing hands.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on PNNT shares. LADENBURG THALM/SH SH raised PennantPark Investment to a "hold" rating in a research report on Wednesday, May 14th. Compass Point reaffirmed a "sell" rating and issued a $5.75 price objective (down from $6.00) on shares of PennantPark Investment in a research report on Wednesday, May 21st. Wall Street Zen raised PennantPark Investment from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. dropped their price target on PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 24th.
Check Out Our Latest Research Report on PNNT
PennantPark Investment Stock Performance
The company has a 50 day moving average price of $6.73 and a 200-day moving average price of $6.85. 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 cap of $457.07 million, a P/E ratio of 26.92 and a beta of 1.00.
PennantPark Investment Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 13.71%. The ex-dividend date of this dividend is Tuesday, July 15th. PennantPark Investment's payout ratio is presently 640.00%.
Insider Buying and Selling
In related news, Director Jose A. Briones bought 3,640 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost 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 $1,850,527.36. This represents a 1.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company's stock.
Institutional Trading of PennantPark Investment
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNNT. Quarry LP bought a new stake in PennantPark Investment in the 1st quarter valued at about $34,000. Ameriflex Group Inc. bought a new stake in PennantPark Investment in the 4th quarter valued at about $39,000. BNP Paribas Financial Markets bought a new stake in PennantPark Investment in the 4th quarter valued at about $80,000. Integrity Alliance LLC. bought a new stake in PennantPark Investment during the 1st quarter worth approximately $83,000. Finally, Virtu Financial LLC bought a new stake in PennantPark Investment during the 4th quarter worth approximately $95,000. 26.62% of the stock is owned by institutional investors.
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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