PennantPark Investment (PNNT) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of PennantPark Investment (NASDAQ:PNNT) from a buy rating to a strong-buy rating in a report published on Friday morning.

Several other equities research analysts also recently commented on the stock. TheStreet downgraded shares of PennantPark Investment from a b- rating to a c rating in a research report on Wednesday, December 13th. BidaskClub raised shares of PennantPark Investment from a strong sell rating to a sell rating in a research report on Saturday, February 10th. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a neutral rating to a buy rating and set a $8.00 target price for the company in a research report on Friday, February 9th. Finally, Zacks Investment Research raised shares of PennantPark Investment from a sell rating to a hold rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $8.30.

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Shares of PennantPark Investment (NASDAQ:PNNT) opened at $6.93 on Friday. PennantPark Investment has a 52 week low of $6.29 and a 52 week high of $8.20. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.79. The firm has a market cap of $492.10, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 4.67 and a beta of 1.13.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $28.67 million during the quarter, compared to the consensus estimate of $28.12 million. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. equities research analysts predict that PennantPark Investment will post 0.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.39%. The ex-dividend date is Friday, March 16th. PennantPark Investment’s payout ratio is presently 102.86%.

In other PennantPark Investment news, Chairman Arthur H. Penn bought 10,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $6.94 per share, with a total value of $69,400.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,342,265.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Burgundy Asset Management Ltd. boosted its holdings in PennantPark Investment by 13.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,338,409 shares of the asset manager’s stock worth $16,158,000 after purchasing an additional 274,029 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in PennantPark Investment by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,866,419 shares of the asset manager’s stock worth $14,016,000 after purchasing an additional 115,209 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in PennantPark Investment by 42.5% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,617,097 shares of the asset manager’s stock worth $11,174,000 after purchasing an additional 482,214 shares during the last quarter. Clearbridge LLC boosted its holdings in PennantPark Investment by 26.6% during the fourth quarter. Clearbridge LLC now owns 1,201,339 shares of the asset manager’s stock worth $8,301,000 after purchasing an additional 252,657 shares during the last quarter. Finally, West Family Investments Inc. boosted its holdings in PennantPark Investment by 11.6% during the fourth quarter. West Family Investments Inc. now owns 959,457 shares of the asset manager’s stock worth $6,627,000 after purchasing an additional 100,000 shares during the last quarter. 42.90% of the stock is owned by institutional investors.

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About PennantPark Investment

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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