International Assets Investment Management LLC Sells 187,787 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

International Assets Investment Management LLC lessened its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 85.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,350 shares of the asset manager’s stock after selling 187,787 shares during the quarter. International Assets Investment Management LLC’s holdings in PennantPark Investment were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kovack Advisors Inc. boosted its position in PennantPark Investment by 4.6% during the 3rd quarter. Kovack Advisors Inc. now owns 45,350 shares of the asset manager’s stock valued at $317,000 after acquiring an additional 2,000 shares in the last quarter. Confluence Investment Management LLC boosted its position in PennantPark Investment by 0.9% during the 3rd quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager’s stock valued at $2,115,000 after acquiring an additional 2,563 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted its position in PennantPark Investment by 1.6% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 240,200 shares of the asset manager’s stock valued at $1,679,000 after acquiring an additional 3,744 shares in the last quarter. Garner Asset Management Corp boosted its position in PennantPark Investment by 9.9% during the 2nd quarter. Garner Asset Management Corp now owns 106,614 shares of the asset manager’s stock valued at $805,000 after acquiring an additional 9,610 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its position in PennantPark Investment by 28.0% during the 2nd quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 10,339 shares in the last quarter. Institutional investors own 26.62% of the company’s stock.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One 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, the company has an average rating of “Hold” and a consensus price target of $6.00.

PennantPark Investment Stock Down 0.1 %

PennantPark Investment stock opened at $7.10 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $463.60 million, a price-to-earnings ratio of 41.77 and a beta of 1.47. PennantPark Investment Co. has a 1-year low of $6.43 and a 1-year high of $8.04. The business has a fifty day moving average price of $6.95 and a 200-day moving average price of $7.05.

PennantPark Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.52%. PennantPark Investment’s payout ratio is 564.71%.

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.