PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC decreased its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 31.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,210 shares of the asset manager’s stock after selling 30,921 shares during the period. Catalyst Capital Advisors LLC owned approximately 0.10% of PennantPark Investment worth $477,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Prevail Innovative Wealth Advisors LLC acquired a new position in PennantPark Investment during the first quarter worth $648,000. Cetera Advisors LLC acquired a new position in shares of PennantPark Investment during the 1st quarter worth $748,000. Condor Capital Management increased its holdings in shares of PennantPark Investment by 81.9% in the 2nd quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock valued at $3,920,000 after purchasing an additional 233,685 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of PennantPark Investment by 599.0% in the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after purchasing an additional 187,787 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in PennantPark Investment by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock worth $416,000 after buying an additional 3,402 shares in the last quarter. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Stock Up 1.4 %

Shares of NASDAQ PNNT opened at $6.73 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50-day moving average is $6.96 and its two-hundred day moving average is $7.19. PennantPark Investment Co. has a 12-month low of $6.31 and a 12-month high of $8.04. The company has a market capitalization of $439.47 million, a PE ratio of 10.20 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, August 7th. The asset manager reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. The firm had revenue of $37.00 million for the quarter, compared to analysts’ expectations of $36.31 million. Equities analysts anticipate that PennantPark Investment Co. will post 0.93 EPS for the current fiscal year.

PennantPark Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.26%. PennantPark Investment’s dividend payout ratio (DPR) is presently 145.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a report on Monday, September 9th.

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.