PennantPark Investment Corp. (NASDAQ:PNNT) announced a quarterly dividend on Monday, March 5th, Zacks reports. Stockholders of record on Monday, March 19th will be paid a dividend of 0.18 per share by the asset manager on Monday, April 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date is Friday, March 16th.
Shares of NASDAQ PNNT traded up $0.07 during midday trading on Monday, reaching $6.75. 519,048 shares of the stock were exchanged, compared to its average volume of 341,275. The company has a market capitalization of $474.69, a P/E ratio of 8.54, a P/E/G ratio of 4.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.03 and a quick ratio of 3.03. PennantPark Investment has a twelve month low of $6.29 and a twelve month high of $8.20.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $28.67 million during the quarter, compared to the consensus estimate of $28.12 million. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. research analysts expect that PennantPark Investment will post 0.75 EPS for the current year.
PNNT has been the subject of several research reports. TheStreet downgraded shares of PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. ValuEngine downgraded shares of PennantPark Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a report on Saturday, February 3rd. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday, February 9th. Finally, BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.30.
In other news, Chairman Arthur H. Penn acquired 10,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $6.94 per share, with a total value of $69,400.00. Following the transaction, the chairman now owns 193,410 shares in the company, valued at $1,342,265.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.
An institutional investor recently bought a new position in PennantPark Investment stock. Northern Trust Corp acquired a new position in shares of PennantPark Investment Corp. (NASDAQ:PNNT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 40,805 shares of the asset manager’s stock, valued at approximately $302,000. Institutional investors and hedge funds own 42.90% of the company’s stock.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.