Published On: Tue, Sep 20th, 2016

PennantPark Investment Corp. (PNNT) Trading Down 2.7%

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) fell 2.7% during mid-day trading on Monday . The stock traded as low as $7.40 and last traded at $7.50, with a volume of 298,330 shares changing hands. The stock had previously closed at $7.71.
Several brokerages have issued reports on PNNT. Jefferies Group reissued a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 12th. Zacks Investment Research downgraded shares of PennantPark Investment Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. JMP Securities boosted their target price on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. FBR & Co boosted their target price on shares of PennantPark Investment Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, August 9th. Finally, DA Davidson downgraded shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $7.00 in a research note on Wednesday, July 27th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PennantPark Investment Corp. has a consensus rating of “Hold” and an average price target of $7.36.
The stock has a 50 day moving average price of $7.68 and a 200 day moving average price of $6.79.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/19/pennantpark-investment-corp-pnnt-trading-down-2-7.html

PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. PennantPark Investment Corp. had a negative net margin of 5.09% and a positive return on equity of 11.20%. The firm had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $35.47 million. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. Equities research analysts predict that PennantPark Investment Corp. will post $1.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 21st will be paid a $0.28 dividend. The ex-dividend date is Monday, September 19th. This represents a $1.12 dividend on an annualized basis and a yield of 14.91%. PennantPark Investment Corp.’s payout ratio is presently -1,244.31%.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new stake in PennantPark Investment Corp. during the first quarter valued at $112,000. BlackRock Group LTD raised its stake in PennantPark Investment Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 335,910 shares of the company’s stock valued at $2,036,000 after buying an additional 7,363 shares during the period. JPMorgan Chase & Co. raised its stake in PennantPark Investment Corp. by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 2,116,857 shares of the company’s stock valued at $12,829,000 after buying an additional 42,711 shares during the period. LPL Financial LLC raised its stake in PennantPark Investment Corp. by 12.3% in the first quarter. LPL Financial LLC now owns 24,442 shares of the company’s stock valued at $152,000 after buying an additional 2,668 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in PennantPark Investment Corp. by 152.7% in the second quarter. Janney Montgomery Scott LLC now owns 322,286 shares of the company’s stock valued at $2,077,000 after buying an additional 194,751 shares during the period. 33.42% of the stock is currently owned by hedge funds and other institutional investors.
PennantPark Investment Corp. Company Profile
PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.

Receive News & Ratings for PennantPark Investment Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PennantPark Investment Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>