PennantPark Investment (NASDAQ:PNNT) Lifted to Neutral at Compass Point

Compass Point upgraded shares of PennantPark Investment (NASDAQ:PNNT) from a sell rating to a neutral rating in a report released on Monday, MarketBeat reports. The firm currently has $6.00 price target on the asset manager’s stock.

Separately, StockNews.com cut shares of PennantPark Investment from a hold rating to a sell rating in a report on Friday, August 9th.

PennantPark Investment Stock Up 0.3 %

PennantPark Investment stock opened at $7.02 on Monday. The stock has a 50-day simple moving average of $7.18 and a 200-day simple moving average of $7.15. The company has a market capitalization of $457.88 million, a P/E ratio of 7.63 and a beta of 1.52. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. PennantPark Investment has a fifty-two week low of $6.01 and a fifty-two week high of $8.04.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.31 million. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. Equities research analysts expect that PennantPark Investment will post 0.93 earnings per share for the current year.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.96 dividend on an annualized basis and a yield of 13.68%. PennantPark Investment’s dividend payout ratio (DPR) is 104.35%.

Institutional Trading of PennantPark Investment

Several hedge funds have recently made changes to their positions in PNNT. Cape Investment Advisory Inc. acquired a new position in shares of PennantPark Investment during the fourth quarter worth about $67,000. Parallel Advisors LLC raised its stake in shares of PennantPark Investment by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock worth $87,000 after buying an additional 2,087 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in shares of PennantPark Investment in the 4th quarter valued at approximately $90,000. Brookstone Capital Management purchased a new stake in shares of PennantPark Investment in the second quarter valued at approximately $105,000. Finally, Aigen Investment Management LP acquired a new position in PennantPark Investment during the fourth quarter worth $101,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

About PennantPark Investment

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.