PennantPark Investment Corp. (NASDAQ:PNNT) CEO Arthur H. Penn purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was acquired at an average price of $6.56 per share, with a total value of $65,600.00. Following the purchase, the chief executive officer now owns 193,410 shares in the company, valued at $1,268,769.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
PNNT stock opened at $6.59 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. PennantPark Investment Corp. has a 12-month low of $5.84 and a 12-month high of $7.34. The stock has a market cap of $441.83 million, a price-to-earnings ratio of 15.33 and a beta of 1.07. The business’s 50-day moving average is $6.59 and its 200 day moving average is $6.35.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). PennantPark Investment had a return on equity of 7.19% and a net margin of 25.60%. The firm had revenue of $26.00 million during the quarter, compared to analyst estimates of $27.53 million. As a group, equities analysts forecast that PennantPark Investment Corp. will post 0.67 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered PennantPark Investment from a “neutral” rating to an “underweight” rating and cut their price target for the company from $6.50 to $6.00 in a research note on Tuesday, October 29th. ValuEngine upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.13.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in PennantPark Investment by 515.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,422 shares of the asset manager’s stock worth $34,000 after buying an additional 4,541 shares during the last quarter. PVG Asset Management Corp acquired a new stake in PennantPark Investment in the 3rd quarter worth about $67,000. Koshinski Asset Management Inc. acquired a new stake in PennantPark Investment in the 4th quarter worth about $80,000. Cambridge Investment Research Advisors Inc. acquired a new stake in PennantPark Investment in the 2nd quarter worth about $77,000. Finally, Wealthspire Advisors L.P. acquired a new position in shares of PennantPark Investment during the 4th quarter worth approximately $85,000. Institutional investors own 39.02% of the company’s stock.
PennantPark Investment Company Profile
PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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