Condor Capital Management Boosts Stock Position in PennantPark Investment Co. (NASDAQ:PNNT)

Condor Capital Management increased its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 5.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 197,433 shares of the asset manager’s stock after buying an additional 10,994 shares during the period. Condor Capital Management’s holdings in PennantPark Investment were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of PennantPark Investment in the 4th quarter worth approximately $71,000. Grimes & Company Inc. purchased a new stake in shares of PennantPark Investment in the 4th quarter worth approximately $443,000. Strategic Financial Concepts LLC purchased a new stake in shares of PennantPark Investment in the 4th quarter worth approximately $115,000. Janney Montgomery Scott LLC grew its stake in shares of PennantPark Investment by 12.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager’s stock worth $927,000 after buying an additional 14,124 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of PennantPark Investment in the 3rd quarter worth approximately $74,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Stock Performance

Shares of PNNT opened at $7.08 on Thursday. The business’s fifty day simple moving average is $7.09 and its two-hundred day simple moving average is $7.00. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment Co. has a 12 month low of $6.43 and a 12 month high of $8.04. The company has a market cap of $461.97 million, a price-to-earnings ratio of 27.21 and a beta of 1.45.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 13.57%. PennantPark Investment’s dividend payout ratio is 369.23%.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH downgraded PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, PennantPark Investment currently has an average rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Company Profile

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.