Ladenburg Thalmann Financial Services Inc. Lowers Position in PennantPark Investment Corp. (PNNT)

Ladenburg Thalmann Financial Services Inc. lessened its holdings in shares of PennantPark Investment Corp. (NASDAQ:PNNT) by 40.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 83,245 shares of the asset manager’s stock after selling 56,978 shares during the period. Ladenburg Thalmann Financial Services Inc. owned 0.12% of PennantPark Investment worth $575,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its holdings in PennantPark Investment by 83.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 41,428 shares of the asset manager’s stock worth $311,000 after acquiring an additional 18,848 shares during the period. Janney Montgomery Scott LLC grew its holdings in PennantPark Investment by 28.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 189,156 shares of the asset manager’s stock worth $1,421,000 after acquiring an additional 41,692 shares during the period. Ares Management LLC grew its holdings in PennantPark Investment by 5.7% during the 4th quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock worth $5,918,000 after acquiring an additional 46,000 shares during the period. West Family Investments Inc. grew its holdings in PennantPark Investment by 11.6% during the 4th quarter. West Family Investments Inc. now owns 959,457 shares of the asset manager’s stock worth $6,627,000 after acquiring an additional 100,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in PennantPark Investment by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock worth $3,220,000 after acquiring an additional 299,280 shares during the period. 42.90% of the stock is owned by hedge funds and other institutional investors.

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A number of research firms have commented on PNNT. Zacks Investment Research raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a report on Saturday, February 10th. TheStreet raised shares of PennantPark Investment from a “c” rating to a “b-” rating in a report on Thursday, March 29th. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Finally, 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 report on Friday, February 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $8.30.

In other news, Chairman Arthur H. Penn purchased 10,000 shares of PennantPark Investment stock in a transaction dated Friday, February 9th. The shares were 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Shares of NASDAQ PNNT opened at $6.89 on Friday. The firm has a market cap of $484.64, a PE ratio of 8.72, a PEG ratio of 4.58 and a beta of 1.13. PennantPark Investment Corp. has a twelve month low of $6.29 and a twelve month high of $8.17. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.79.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $28.67 million for the quarter, compared to analysts’ expectations of $28.12 million. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. equities analysts anticipate that PennantPark Investment Corp. will post 0.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 19th were given a dividend of $0.18 per share. The ex-dividend date was Friday, March 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.45%. PennantPark Investment’s dividend payout ratio is 91.14%.

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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.

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Institutional Ownership by Quarter for PennantPark Investment (NASDAQ:PNNT)

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