A number of other research firms also recently commented on PNNT. Zacks Investment Research downgraded HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. ValuEngine downgraded Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. Raymond James assumed coverage on PennantPark Investment in a research note on Monday, April 29th. They issued an outperform rating and a $8.00 price target for the company. LADENBURG THALM/SH SH downgraded PennantPark Investment from a buy rating to a neutral rating in a research note on Monday, May 13th. Finally, Compass Point downgraded Realogy from a neutral rating to a sell rating and dropped their price target for the company from $12.50 to $8.00 in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. PennantPark Investment has an average rating of Hold and a consensus price target of $7.60.
Shares of PennantPark Investment stock opened at $6.55 on Thursday. The company has a 50-day simple moving average of $6.39. The company has a market capitalization of $439.14 million, a PE ratio of 9.23 and a beta of 1.14. PennantPark Investment has a 52-week low of $6.21 and a 52-week high of $7.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.58 and a current ratio of 1.58.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date of this dividend was Friday, June 14th. PennantPark Investment’s dividend payout ratio (DPR) is presently 96.00%.
In other PennantPark Investment news, Chairman Arthur H. Penn bought 16,000 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average price of $6.52 per share, with a total value of $104,320.00. Following the completion of the purchase, the chairman now owns 193,410 shares in the company, valued at $1,261,033.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Arthur H. Penn bought 15,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $6.58 per share, with a total value of $98,700.00. Following the purchase, the chairman now owns 193,410 shares of the company’s stock, valued at approximately $1,272,637.80. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Destination Wealth Management acquired a new position in PennantPark Investment during the first quarter worth about $61,000. Two Sigma Securities LLC acquired a new position in PennantPark Investment during the fourth quarter worth about $71,000. Squarepoint Ops LLC acquired a new position in PennantPark Investment during the fourth quarter worth about $91,000. Moors & Cabot Inc. acquired a new position in PennantPark Investment during the first quarter worth about $96,000. Finally, Quad Cities Investment Group LLC raised its stake in PennantPark Investment by 7,500.0% during the second quarter. Quad Cities Investment Group LLC now owns 15,200 shares of the asset manager’s stock worth $97,000 after acquiring an additional 15,000 shares in the last quarter. 43.97% of the stock is owned by hedge funds and other institutional investors.
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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