PennantPark Investment Co. (NASDAQ:PNNT – Get Rating) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $8.00.
Several analysts recently commented on the company. Raymond James boosted their price target on PennantPark Investment from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. StockNews.com assumed coverage on PennantPark Investment in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research cut PennantPark Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eagle Global Advisors LLC grew its holdings in shares of PennantPark Investment by 68.3% during the 4th quarter. Eagle Global Advisors LLC now owns 65,210 shares of the asset manager’s stock worth $452,000 after purchasing an additional 26,470 shares during the period. Callodine Capital Management LP lifted its stake in PennantPark Investment by 18.3% during the 3rd quarter. Callodine Capital Management LP now owns 1,775,000 shares of the asset manager’s stock worth $11,520,000 after acquiring an additional 275,000 shares in the last quarter. Van ECK Associates Corp lifted its stake in PennantPark Investment by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 1,034,781 shares of the asset manager’s stock worth $7,171,000 after acquiring an additional 24,174 shares in the last quarter. HighTower Advisors LLC lifted its stake in PennantPark Investment by 10.5% during the 3rd quarter. HighTower Advisors LLC now owns 66,354 shares of the asset manager’s stock worth $429,000 after acquiring an additional 6,279 shares in the last quarter. Finally, Ares Management LLC lifted its stake in PennantPark Investment by 21.5% during the 3rd quarter. Ares Management LLC now owns 4,415,025 shares of the asset manager’s stock worth $28,654,000 after acquiring an additional 780,285 shares in the last quarter. Institutional investors and hedge funds own 32.03% of the company’s stock.
Shares of PNNT stock opened at $6.74 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $445.72 million, a price-to-earnings ratio of 5.22 and a beta of 1.67. The stock has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $7.28. PennantPark Investment has a 1-year low of $6.21 and a 1-year high of $8.02.
PennantPark Investment (NASDAQ:PNNT – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The asset manager reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. PennantPark Investment had a return on equity of 6.59% and a net margin of 88.94%. The firm had revenue of $24.34 million during the quarter, compared to analysts’ expectations of $26.01 million. During the same period in the previous year, the business earned $0.13 earnings per share. Analysts anticipate that PennantPark Investment will post 0.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be issued a $0.145 dividend. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a yield of 8.61%. The ex-dividend date is Thursday, June 16th. PennantPark Investment’s dividend payout ratio is presently 43.41%.
PennantPark Investment Company Profile (Get Rating)
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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