PennantPark Investment (NASDAQ:PNNT) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

PennantPark Investment Co. (NASDAQ:PNNT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.00 and traded as high as $7.11. PennantPark Investment shares last traded at $7.08, with a volume of 353,550 shares trading hands.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH cut shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, PennantPark Investment currently has a consensus rating of “Hold” and an average target price of $6.00.

PennantPark Investment Stock Performance

The company has a market capitalization of $461.97 million, a PE ratio of 27.21 and a beta of 1.45. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $7.00.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 13.57%. PennantPark Investment’s payout ratio is currently 369.23%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in PennantPark Investment in the fourth quarter valued at about $39,000. Sanctuary Advisors LLC acquired a new position in PennantPark Investment in the fourth quarter worth about $71,000. Verition Fund Management LLC acquired a new position in PennantPark Investment in the third quarter worth about $74,000. BNP Paribas Financial Markets acquired a new position in PennantPark Investment in the fourth quarter worth about $80,000. Finally, Virtu Financial LLC acquired a new position in PennantPark Investment in the fourth quarter worth about $95,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

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.