PennantPark Investment (NASDAQ:PNNT) Upgraded to “Neutral” by Compass Point

Compass Point upgraded shares of PennantPark Investment (NASDAQ:PNNT) from a sell rating to a neutral rating in a research note published on Monday, Marketbeat.com reports. Compass Point currently has $6.00 price objective on the asset manager’s stock.

Separately, StockNews.com downgraded shares of PennantPark Investment from a hold rating to a sell rating in a research note on Friday, August 9th.

PennantPark Investment Stock Up 0.7 %

NASDAQ PNNT opened at $6.98 on Monday. PennantPark Investment has a fifty-two week low of $6.01 and a fifty-two week high of $8.04. The business has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $7.15. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $455.27 million, a PE ratio of 7.59 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $37.00 million for the quarter, compared to analyst estimates of $36.31 million. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. Equities analysts expect that PennantPark Investment will post 0.93 earnings per share for the current fiscal year.

PennantPark Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 13.75%. The ex-dividend date is Monday, September 16th. PennantPark Investment’s dividend payout ratio (DPR) is currently 104.35%.

Institutional Investors Weigh In On PennantPark Investment

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of PennantPark Investment by 20.0% during the fourth quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 2,087 shares during the last quarter. EMC Capital Management lifted its holdings in PennantPark Investment by 10.5% during the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock worth $219,000 after buying an additional 3,014 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of PennantPark Investment by 2.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,627 shares of the asset manager’s stock valued at $792,000 after buying an additional 3,126 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of PennantPark Investment by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock worth $416,000 after acquiring an additional 3,402 shares during the last quarter. Finally, Kovack Advisors Inc. raised its position in shares of PennantPark Investment by 9.8% during the first quarter. Kovack Advisors Inc. now owns 41,350 shares of the asset manager’s stock worth $284,000 after acquiring an additional 3,700 shares during the last quarter. 26.62% of the stock is currently owned by institutional investors and hedge funds.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.