Insider Buying: PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Buys $94,500.00 in Stock

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PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn bought 15,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $94,500.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at $1,218,483. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of PennantPark Investment stock opened at $6.30 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $429.76 million, a PE ratio of 8.40 and a beta of 1.14. The business’s 50-day moving average price is $6.44 and its 200-day moving average price is $6.77. PennantPark Investment Corp. has a 12 month low of $6.21 and a 12 month high of $7.84.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $28.11 million for the quarter, compared to the consensus estimate of $29.38 million. PennantPark Investment had a net margin of 18.01% and a return on equity of 8.08%. As a group, analysts predict that PennantPark Investment Corp. will post 0.72 earnings per share for the current fiscal year.

PNNT has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH lowered PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. BidaskClub upgraded PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 18th. Compass Point lowered PennantPark Investment from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $8.50 to $7.00 in a research report on Friday, May 3rd. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.50.

Several institutional investors have recently made changes to their positions in PNNT. Stifel Financial Corp boosted its holdings in PennantPark Investment by 4.9% during the 4th quarter. Stifel Financial Corp now owns 32,300 shares of the asset manager’s stock valued at $207,000 after acquiring an additional 1,500 shares during the period. Mckinley Capital Management LLC Delaware boosted its holdings in PennantPark Investment by 0.8% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 305,603 shares of the asset manager’s stock valued at $2,112,000 after acquiring an additional 2,414 shares during the period. LPL Financial LLC boosted its holdings in PennantPark Investment by 3.5% during the 2nd quarter. LPL Financial LLC now owns 102,299 shares of the asset manager’s stock valued at $647,000 after acquiring an additional 3,483 shares during the period. Quantamental Technologies LLC boosted its holdings in PennantPark Investment by 2,255.0% during the 2nd quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 3,811 shares during the period. Finally, Bank of America Corp DE boosted its holdings in PennantPark Investment by 30.5% during the 4th quarter. Bank of America Corp DE now owns 16,860 shares of the asset manager’s stock valued at $108,000 after acquiring an additional 3,936 shares during the period. Hedge funds and other institutional investors own 43.04% of the company’s stock.

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.

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