Penn Capital Management Company LLC Sells 73,120 Shares of Park Aerospace Corp. $PKE

Penn Capital Management Company LLC cut its position in shares of Park Aerospace Corp. (NYSE:PKE) by 60.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 48,539 shares of the semiconductor company’s stock after selling 73,120 shares during the quarter. Penn Capital Management Company LLC’s holdings in Park Aerospace were worth $1,852,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PKE. BlackRock Inc. acquired a new position in Park Aerospace in the second quarter valued at $55,207,000. Stephens Investment Management Group LLC bought a new stake in Park Aerospace in the first quarter worth approximately $14,926,000. Next Century Growth Investors LLC lifted its stake in Park Aerospace by 93.0% in the fourth quarter. Next Century Growth Investors LLC now owns 526,054 shares of the semiconductor company’s stock valued at $11,226,000 after buying an additional 253,508 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Park Aerospace during the 2nd quarter worth approximately $7,639,000. Finally, Sei Investments Co. boosted its holdings in shares of Park Aerospace by 116.2% during the 1st quarter. Sei Investments Co. now owns 263,034 shares of the semiconductor company’s stock worth $7,202,000 after buying an additional 141,359 shares in the last quarter. Institutional investors own 77.83% of the company’s stock.

Analyst Ratings Changes

PKE has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Park Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Park Aerospace in a research note on Tuesday, July 21st. Citizens Jmp assumed coverage on shares of Park Aerospace in a report on Tuesday, June 9th. They issued a “market outperform” rating and a $42.00 price target for the company. Wall Street Zen downgraded shares of Park Aerospace from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Citigroup reiterated a “market outperform” rating on shares of Park Aerospace in a report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.50.

Park Aerospace Price Performance

PKE opened at $32.45 on Friday. Park Aerospace Corp. has a fifty-two week low of $18.19 and a fifty-two week high of $39.86. The firm has a market capitalization of $705.79 million, a PE ratio of 51.51 and a beta of 0.41. The company’s 50-day moving average is $35.07 and its 200 day moving average is $32.11.

Park Aerospace (NYSE:PKE) last issued its quarterly earnings data on Monday, July 20th. The semiconductor company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $18.31 million during the quarter, compared to analyst estimates of $17.95 million. Park Aerospace had a return on equity of 10.75% and a net margin of 16.70%.

Park Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 1st were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, July 1st. Park Aerospace’s dividend payout ratio is presently 79.37%.

Insider Buying and Selling

In other Park Aerospace news, insider Constantine Petropoulos sold 2,500 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $36.00, for a total transaction of $90,000.00. Following the transaction, the insider directly owned 2,500 shares in the company, valued at approximately $90,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

About Park Aerospace

Park Aerospace (NYSE: PKE) is a specialized materials and manufacturing company that designs, develops and produces high-performance composite structures, engineered laminates and specialty adhesives for aerospace, defense and industrial markets. Its product portfolio includes advanced honeycomb cores, composite assemblies, dielectric and high-reliability circuit materials, as well as structural and bonding solutions that meet demanding performance and weight requirements.

The company operates through two principal segments.