PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 361,259 shares of the asset manager’s stock after selling 61,380 shares during the period. Millennium Management LLC owned approximately 0.55% of PennantPark Investment worth $2,728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PNNT. Confluence Investment Management LLC purchased a new stake in shares of PennantPark Investment during the first quarter worth $4,412,000. Truvestments Capital LLC purchased a new stake in shares of PennantPark Investment during the first quarter worth $1,941,000. Legacy Capital Wealth Partners LLC purchased a new stake in shares of PennantPark Investment during the second quarter worth $1,785,000. Condor Capital Management grew its holdings in shares of PennantPark Investment by 81.9% during the second quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock worth $3,920,000 after buying an additional 233,685 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of PennantPark Investment by 36.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 578,450 shares of the asset manager’s stock worth $3,980,000 after buying an additional 154,594 shares in the last quarter. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Price Performance

Shares of NASDAQ PNNT opened at $7.03 on Tuesday. PennantPark Investment Co. has a 1-year low of $6.01 and a 1-year high of $8.04. 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 business’s fifty day moving average price is $6.97 and its two-hundred day moving average price is $7.19. The firm has a market capitalization of $458.53 million, a PE ratio of 7.64 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. The company had revenue of $37.00 million for the quarter, compared to analyst estimates of $36.31 million. On average, research analysts expect that PennantPark Investment Co. will post 0.93 EPS for the current year.

PennantPark Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 13.66%. The ex-dividend date of this dividend is Wednesday, October 16th. PennantPark Investment’s dividend payout ratio (DPR) is currently 104.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PNNT shares. StockNews.com cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point raised shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target on the stock in a research report on Monday, September 9th.

PennantPark Investment Profile

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.