PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Buys $95,850.00 in Stock

Share on StockTwits

PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $6.39 per share, for a total transaction of $95,850.00. Following the completion of the transaction, the chairman now owns 193,410 shares in the company, valued at $1,235,889.90. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

PennantPark Investment stock opened at $6.31 on Thursday. The firm has a market cap of $425.07 million, a PE ratio of 8.93 and a beta of 1.14. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50-day moving average is $6.44. PennantPark Investment Corp. has a 52 week low of $6.21 and a 52 week high of $7.84.

PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Wednesday, August 7th. The asset manager reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.02). The company had revenue of $28.11 million for the quarter, compared to analyst estimates of $29.38 million. PennantPark Investment had a net margin of 18.01% and a return on equity of 8.08%. On average, equities research analysts anticipate that PennantPark Investment Corp. will post 0.72 earnings per share for the current year.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Raymond James assumed coverage on shares of PennantPark Investment in a research note on Monday, April 29th. They set an “outperform” rating and a $8.00 target price on the stock. ValuEngine cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, TheStreet cut shares of PennantPark Investment from a “b-” rating to a “c” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. PennantPark Investment presently has a consensus rating of “Hold” and a consensus target price of $7.50.

A number of institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp grew its stake in shares of PennantPark Investment by 4.9% in the fourth quarter. Stifel Financial Corp now owns 32,300 shares of the asset manager’s stock worth $207,000 after acquiring an additional 1,500 shares in the last quarter. Bank of America Corp DE grew its stake in shares of PennantPark Investment by 30.5% in the fourth quarter. Bank of America Corp DE now owns 16,860 shares of the asset manager’s stock worth $108,000 after acquiring an additional 3,936 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of PennantPark Investment in the fourth quarter worth $91,000. Legal & General Group Plc grew its stake in shares of PennantPark Investment by 11.8% in the fourth quarter. Legal & General Group Plc now owns 308,602 shares of the asset manager’s stock worth $1,970,000 after acquiring an additional 32,532 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of PennantPark Investment by 36.3% in the fourth quarter. Millennium Management LLC now owns 471,012 shares of the asset manager’s stock worth $3,000,000 after acquiring an additional 125,492 shares in the last quarter. 43.04% of the stock is currently owned by hedge funds and other institutional investors.

About PennantPark Investment

PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

Featured Article: What is Elliott Wave theory?

Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Repay Holdings Corporation  Forecasted to Post Q3 2019 Earnings of $0.07 Per Share
Repay Holdings Corporation Forecasted to Post Q3 2019 Earnings of $0.07 Per Share
Q3 2019 Earnings Estimate for Mercer International Inc. Issued By Raymond James
Q3 2019 Earnings Estimate for Mercer International Inc. Issued By Raymond James
First Midwest Bancorp Inc  to Post Q3 2019 Earnings of $0.48 Per Share, DA Davidson Forecasts
First Midwest Bancorp Inc to Post Q3 2019 Earnings of $0.48 Per Share, DA Davidson Forecasts
Q3 2019 Earnings Forecast for Canfor Co.  Issued By Raymond James
Q3 2019 Earnings Forecast for Canfor Co. Issued By Raymond James
Research Analysts Offer Predictions for Methanex Co.’s Q3 2019 Earnings
Research Analysts Offer Predictions for Methanex Co.’s Q3 2019 Earnings
Q3 2019 Earnings Forecast for Bank Ozk  Issued By SunTrust Banks
Q3 2019 Earnings Forecast for Bank Ozk Issued By SunTrust Banks


© 2006-2019 Ticker Report