PennantPark Investment (PNNT) Issues Earnings Results

PennantPark Investment (NASDAQ:PNNT) issued its quarterly earnings data on Wednesday. The asset manager reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02, Briefing.com reports. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business had revenue of $28.67 million during the quarter, compared to the consensus estimate of $28.12 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year.

PennantPark Investment (NASDAQ:PNNT) traded up $0.21 during trading on Thursday, hitting $6.86. 505,012 shares of the stock were exchanged, compared to its average volume of 347,607. PennantPark Investment has a 1 year low of $6.29 and a 1 year high of $8.68. The company has a market cap of $459.05, a P/E ratio of 7.73, a P/E/G ratio of 4.46 and a beta of 1.22. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81.

PNNT has been the subject of a number of recent analyst reports. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. TheStreet downgraded shares of PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment in a research report on Sunday, November 5th. Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 price objective on shares of PennantPark Investment in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.38.

In related news, Chairman Arthur H. Penn bought 12,000 shares of PennantPark Investment stock in a transaction dated Wednesday, December 6th. The stock was purchased at an average cost of $7.31 per share, with a total value of $87,720.00. Following the transaction, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,413,827.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Arthur H. Penn bought 14,000 shares of PennantPark Investment stock in a transaction dated Monday, December 4th. The shares were bought at an average cost of $7.14 per share, with a total value of $99,960.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares in the company, valued at $1,380,947.40. The disclosure for this purchase can be found here. Insiders have bought a total of 48,000 shares of company stock valued at $344,280 over the last three months. Insiders own 2.00% of the company’s stock.

A hedge fund recently bought a new stake in PennantPark Investment stock. Northern Trust Corp bought a new stake in shares of PennantPark Investment Corp. (NASDAQ:PNNT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,805 shares of the asset manager’s stock, valued at approximately $302,000. Institutional investors own 42.77% of the company’s stock.

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About PennantPark Investment

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.

Earnings History for PennantPark Investment (NASDAQ:PNNT)

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