PennantPark Investment (NASDAQ:PNNT) Stock Rating Lowered by TheStreet

TheStreet downgraded shares of PennantPark Investment (NASDAQ:PNNT) from a b- rating to a c rating in a research note published on Tuesday morning, TheStreetRatingsTable reports.

Several other analysts have also issued reports on the company. Raymond James started coverage on PennantPark Investment in a research note on Monday, April 29th. They issued an outperform rating and a $8.00 target price on the stock. BidaskClub upgraded WhiteHorse Finance from a sell rating to a hold rating in a research note on Thursday. Zacks Investment Research lowered HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. Compass Point lowered Realogy from a neutral rating to a sell rating and lowered their target price for the company from $12.50 to $8.00 in a research note on Friday, May 3rd. Finally, ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $7.60.

PNNT stock opened at $6.55 on Tuesday. The stock has a fifty day simple moving average of $6.39. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.58 and a current ratio of 1.58. PennantPark Investment has a 1-year low of $6.21 and a 1-year high of $7.84. The stock has a market capitalization of $440.45 million, a PE ratio of 8.73 and a beta of 1.14.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, May 9th. The asset manager reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). The business had revenue of $28.69 million during the quarter, compared to analysts’ expectations of $28.89 million. PennantPark Investment had a return on equity of 7.94% and a net margin of 28.97%. As a group, equities research analysts forecast that PennantPark Investment will post 0.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.99%. PennantPark Investment’s payout ratio is 96.00%.

In related news, Chairman Arthur H. Penn acquired 16,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $6.52 per share, for a total transaction of $104,320.00. Following the purchase, the chairman now owns 193,410 shares in the company, valued at approximately $1,261,033.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Arthur H. Penn acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $6.58 per share, for a total transaction of $98,700.00. Following the completion of the purchase, the chairman now owns 193,410 shares in the company, valued at approximately $1,272,637.80. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in shares of PennantPark Investment by 5.4% during the 4th quarter. LPL Financial LLC now owns 92,217 shares of the asset manager’s stock valued at $587,000 after purchasing an additional 4,711 shares in the last quarter. Advisor Group Inc. boosted its position in shares of PennantPark Investment by 423.8% during the 4th quarter. Advisor Group Inc. now owns 43,901 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 35,520 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of PennantPark Investment by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 20,898 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 2,459 shares in the last quarter. Stifel Financial Corp boosted its position in shares of PennantPark Investment by 4.9% during the 4th quarter. Stifel Financial Corp now owns 32,300 shares of the asset manager’s stock valued at $207,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of PennantPark Investment during the 4th quarter valued at about $71,000. Institutional investors own 43.97% 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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Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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