PennantPark Investment (NASDAQ:PNNT) Reaches New 1-Year High at $7.78

PennantPark Investment Co. (NASDAQ:PNNTGet Free Report)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.78 and last traded at $7.76, with a volume of 227952 shares. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNNT. Raymond James cut PennantPark Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods raised PennantPark Investment to a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.94.

Get Our Latest Stock Report on PNNT

PennantPark Investment Price Performance

The stock has a fifty day moving average of $7.42 and a 200-day moving average of $7.06. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $504.15 million, a P/E ratio of 8.34 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNTGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. The business had revenue of $35.98 million during the quarter, compared to the consensus estimate of $36.22 million. Equities analysts predict that PennantPark Investment Co. will post 0.92 EPS for the current fiscal year.

PennantPark Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be issued a $0.08 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.42%. PennantPark Investment’s dividend payout ratio is 104.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pacific Capital Wealth Advisors Inc. acquired a new stake in PennantPark Investment in the fourth quarter worth about $52,000. Cape Investment Advisory Inc. acquired a new position in shares of PennantPark Investment in the 4th quarter valued at $67,000. Parallel Advisors LLC increased its position in shares of PennantPark Investment by 20.0% in the 4th quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock valued at $87,000 after buying an additional 2,087 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of PennantPark Investment in the 4th quarter valued at $90,000. Finally, Aigen Investment Management LP acquired a new stake in PennantPark Investment during the 4th quarter worth $101,000. 26.62% of the stock is owned by institutional investors.

About PennantPark Investment

(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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