PennantPark Investment's (PNNT) Sell Rating Reiterated at Compass Point

PennantPark Investment (NASDAQ:PNNT - Get Free Report)'s stock had its "sell" rating reissued by Compass Point in a note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $5.75 price target on the asset manager's stock, down from their prior price target of $6.00. Compass Point's price objective suggests a potential downside of 12.55% from the stock's current price.

PNNT has been the subject of several other research reports. Wall Street Zen raised shares of PennantPark Investment from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on shares of PennantPark Investment from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, LADENBURG THALM/SH SH upgraded PennantPark Investment to a "hold" rating in a report on Wednesday, May 14th.

PennantPark Investment Trading Up 0.1%

Shares of PNNT stock traded up $0.01 on Wednesday, reaching $6.58. The company had a trading volume of 365,794 shares, compared to its average volume of 497,434. The stock has a market cap of $429.32 million, a PE ratio of 25.29 and a beta of 1.02. The company has a 50-day moving average of $6.60 and a 200-day moving average of $6.87. 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 has a 12 month low of $5.72 and a 12 month high of $8.04.

Insider Activity

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 acquired at an average price of $6.88 per share, with a total value of $25,043.20. Following the completion of the transaction, the director now owns 268,972 shares in the company, valued at approximately $1,850,527.36. This trade represents a 1.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennantPark Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNNT. Integrity Alliance LLC. acquired a new stake in shares of PennantPark Investment in the first quarter valued at about $83,000. Caxton Associates LLP acquired a new position in shares of PennantPark Investment during the 1st quarter worth approximately $339,000. PharVision Advisers LLC bought a new stake in shares of PennantPark Investment during the 1st quarter worth approximately $95,000. Advisors Asset Management Inc. boosted its holdings in shares of PennantPark Investment by 3.7% in the 1st quarter. Advisors Asset Management Inc. now owns 610,144 shares of the asset manager's stock valued at $4,289,000 after buying an additional 21,836 shares during the last quarter. Finally, Quarry LP bought a new position in shares of PennantPark Investment in the first quarter valued at $34,000. 26.62% of the stock is owned by institutional investors.

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.