PennantPark Investment Co. Announces Monthly Dividend of $0.07 (NASDAQ:PNNT)

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.07 per share by the asset manager on Monday, June 3rd. This represents a $0.84 annualized dividend and a dividend yield of 11.72%. The ex-dividend date of this dividend is Tuesday, May 14th.

PennantPark Investment has raised its dividend by an average of 14.2% per year over the last three years. PennantPark Investment has a dividend payout ratio of 91.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 92.3%.

PennantPark Investment Trading Up 1.8 %

Shares of NASDAQ:PNNT traded up $0.13 during midday trading on Monday, reaching $7.17. The company’s stock had a trading volume of 480,306 shares, compared to its average volume of 429,798. PennantPark Investment has a fifty-two week low of $4.87 and a fifty-two week high of $7.27. The firm has a market capitalization of $467.63 million, a price-to-earnings ratio of 9.69 and a beta of 1.49. The firm has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $6.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.81 and a current ratio of 0.81.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $34.34 million for the quarter, compared to the consensus estimate of $32.49 million. PennantPark Investment had a return on equity of 14.17% and a net margin of 32.55%. As a group, analysts forecast that PennantPark Investment will post 0.94 earnings per share for the current year.

Insider Transactions at PennantPark Investment

In other PennantPark Investment news, CFO Richard T. Allorto, Jr. bought 5,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of $6.80 per share, with a total value of $34,000.00. Following the completion of the purchase, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $102,000. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jose A. Briones purchased 7,450 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $6.70 per share, for a total transaction of $49,915.00. Following the purchase, the director now directly owns 251,735 shares in the company, valued at $1,686,624.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard T. Allorto, Jr. bought 5,000 shares of PennantPark Investment stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the completion of the acquisition, the chief financial officer now owns 15,000 shares in the company, valued at $102,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 22,372 shares of company stock worth $151,258. Company insiders own 3.00% of the company’s stock.

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.