PennantPark Investment Co. (NASDAQ:PNNT) has received a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.00.
A number of brokerages have issued reports on PNNT. JMP Securities began coverage on PennantPark Investment in a research note on Tuesday, March 9th. They issued a “market perform” rating for the company. TheStreet upgraded PennantPark Investment from a “c-” rating to a “b-” rating in a research note on Friday, February 12th.
Several hedge funds have recently bought and sold shares of PNNT. Ares Management LLC bought a new position in shares of PennantPark Investment during the 4th quarter worth $3,436,000. Mendon Capital Advisors Corp bought a new position in PennantPark Investment in the 4th quarter worth about $1,844,000. Van ECK Associates Corp boosted its stake in PennantPark Investment by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 1,066,146 shares of the asset manager’s stock worth $4,915,000 after purchasing an additional 132,352 shares during the period. Virtus ETF Advisers LLC boosted its stake in PennantPark Investment by 109.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 137,760 shares of the asset manager’s stock worth $635,000 after purchasing an additional 72,092 shares during the period. Finally, Condor Capital Management bought a new position in PennantPark Investment in the 4th quarter worth about $246,000. Institutional investors own 29.94% of the company’s stock.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Monday, February 8th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $18.73 million during the quarter, compared to the consensus estimate of $19.78 million. PennantPark Investment had a negative net margin of 15.93% and a positive return on equity of 7.56%. Equities research analysts forecast that PennantPark Investment will post 0.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Thursday, March 18th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 7.91%. PennantPark Investment’s payout ratio is 78.69%.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a business development company. It 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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