PennantPark Investment Corp. (NASDAQ:PNNT) declared a quarterly dividend on Wednesday, December 6th, Wall Street Journal reports. Shareholders of record on Tuesday, December 26th will be given a dividend of 0.18 per share by the asset manager on Tuesday, January 2nd. This represents a $0.72 annualized dividend and a yield of 10.01%. The ex-dividend date of this dividend is Friday, December 22nd.
PennantPark Investment (NASDAQ:PNNT) opened at $7.19 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment has a 1-year low of $6.67 and a 1-year high of $8.68. The stock has a market cap of $511.64, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 4.94 and a beta of 1.27.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $27.87 million for the quarter, compared to analysts’ expectations of $29.19 million. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. PennantPark Investment’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. sell-side analysts anticipate that PennantPark Investment will post 0.73 EPS for the current fiscal year.
In other news, CFO Aviv Efrat acquired 10,000 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was acquired at an average price of $7.14 per share, for a total transaction of $71,400.00. Following the completion of the transaction, the chief financial officer now owns 106,102 shares in the company, valued at approximately $757,568.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Arthur H. Penn purchased 14,000 shares of PennantPark Investment stock in a transaction that occurred on Monday, December 4th. The shares were bought at an average price of $7.14 per share, with a total value of $99,960.00. Following the transaction, the chairman now owns 193,410 shares in the company, valued at $1,380,947.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,000 shares of company stock valued at $344,280. Insiders own 2.00% of the company’s stock.
A hedge fund recently bought a new stake in PennantPark Investment stock. Northern Trust Corp purchased a new stake in PennantPark Investment Corp. (NASDAQ:PNNT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 40,805 shares of the asset manager’s stock, valued at approximately $302,000. Hedge funds and other institutional investors own 42.60% of the company’s stock.
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PennantPark Investment Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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