News stories about PennantPark Investment Corporation (NASDAQ:PNNT) have trended somewhat positive this week, according to Accern. The research firm scores the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. PennantPark Investment Corporation earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news coverage about the asset manager an impact score of 46.6891761178154 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
PNNT has been the subject of a number of recent research reports. BidaskClub lowered shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research lowered shares of PennantPark Investment Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $8.50 price target on shares of PennantPark Investment Corporation in a research report on Tuesday, July 25th. Compass Point initiated coverage on shares of PennantPark Investment Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $8.50 price target for the company. Finally, J P Morgan Chase & Co raised shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $8.50 in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.14.
PennantPark Investment Corporation (NASDAQ:PNNT) opened at 7.65 on Friday. The stock’s 50 day moving average is $7.56 and its 200 day moving average is $7.63. PennantPark Investment Corporation has a 12-month low of $6.86 and a 12-month high of $8.68.
PennantPark Investment Corporation (NASDAQ:PNNT) last posted its quarterly earnings data on Monday, August 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $31.10 million during the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. PennantPark Investment Corporation’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Equities analysts predict that PennantPark Investment Corporation will post $0.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 9.41%. The ex-dividend date of this dividend was Tuesday, September 19th. PennantPark Investment Corporation’s payout ratio is currently 74.23%.
In related news, Chairman Arthur H. Penn purchased 32,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $7.72 per share, for a total transaction of $247,040.00. Following the completion of the purchase, the chairman now directly owns 183,400 shares of the company’s stock, valued at $1,415,848. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $7.62 per share, with a total value of $213,360.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,473,784.20. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.
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PennantPark Investment Corporation Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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