PennantPark Investment (NASDAQ:PNNT) Cut to Neutral at LADENBURG THALM/SH SH

PennantPark Investment (NASDAQ:PNNT) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports.

PNNT has been the subject of several other research reports. StockNews.com cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.00.

PennantPark Investment Stock Down 2.3 %

Shares of NASDAQ PNNT opened at $6.75 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The company has a market cap of $440.75 million, a P/E ratio of 10.23 and a beta of 1.52. PennantPark Investment has a 52 week low of $6.31 and a 52 week high of $8.04. The business has a 50-day simple moving average of $6.95 and a two-hundred day simple moving average of $7.17.

Institutional Trading of PennantPark Investment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new position in PennantPark Investment in the third quarter worth $74,000. Brookstone Capital Management bought a new stake in PennantPark Investment during the second quarter worth about $105,000. Quantbot Technologies LP purchased a new position in shares of PennantPark Investment in the 3rd quarter worth about $133,000. Paloma Partners Management Co purchased a new position in shares of PennantPark Investment during the 3rd quarter valued at about $173,000. Finally, EMC Capital Management lifted its position in PennantPark Investment by 10.5% in 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 last quarter. Hedge funds and other institutional investors own 26.62% of the company’s stock.

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.