TrueMark Investments LLC Sells 7,944 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

TrueMark Investments LLC lessened its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 25.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,313 shares of the asset manager’s stock after selling 7,944 shares during the period. TrueMark Investments LLC’s holdings in PennantPark Investment were worth $165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of PennantPark Investment during the 4th quarter worth $95,000. Condor Capital Management increased its holdings in PennantPark Investment by 5.9% in the 4th quarter. Condor Capital Management now owns 197,433 shares of the asset manager’s stock valued at $1,398,000 after buying an additional 10,994 shares during the period. Thrivent Financial for Lutherans raised its position in shares of PennantPark Investment by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 46,704 shares of the asset manager’s stock valued at $331,000 after buying an additional 3,283 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of PennantPark Investment by 5.8% during the 4th quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager’s stock worth $2,710,000 after acquiring an additional 20,907 shares during the period. Finally, Founders Financial Alliance LLC boosted its position in shares of PennantPark Investment by 8.0% during the 4th quarter. Founders Financial Alliance LLC now owns 58,642 shares of the asset manager’s stock worth $415,000 after acquiring an additional 4,352 shares in the last quarter. 26.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH downgraded shares of 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 assigned a hold rating to the company. According to MarketBeat, PennantPark Investment presently has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Trading Up 0.8 %

NASDAQ PNNT opened at $7.20 on Thursday. PennantPark Investment Co. has a twelve month low of $6.43 and a twelve month high of $8.04. The business’s fifty day moving average is $7.09 and its 200 day moving average is $7.00. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The company has a market cap of $469.80 million, a price-to-earnings ratio of 27.67 and a beta of 1.45.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 13.34%. The ex-dividend date is Friday, March 14th. PennantPark Investment’s dividend payout ratio is currently 369.23%.

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.