ArrowMark Colorado Holdings LLC lifted its stake in shares of PennantPark Investment Corp. (NASDAQ:PNNT) by 42.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,617,097 shares of the asset manager’s stock after acquiring an additional 482,214 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 2.28% of PennantPark Investment worth $11,174,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in shares of PennantPark Investment by 25.2% during the second quarter. Ameriprise Financial Inc. now owns 37,330 shares of the asset manager’s stock worth $276,000 after acquiring an additional 7,514 shares during the period. Garner Asset Management Corp increased its position in shares of PennantPark Investment by 10.7% during the fourth quarter. Garner Asset Management Corp now owns 81,477 shares of the asset manager’s stock worth $563,000 after acquiring an additional 7,879 shares during the period. Global X MANAGEMENT CO LLC increased its position in shares of PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock worth $186,000 after acquiring an additional 8,165 shares during the period. Mckinley Capital Management LLC Delaware increased its position in shares of PennantPark Investment by 3.3% during the third quarter. Mckinley Capital Management LLC Delaware now owns 271,788 shares of the asset manager’s stock worth $2,041,000 after acquiring an additional 8,751 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of PennantPark Investment by 29.6% during the third quarter. California Public Employees Retirement System now owns 54,700 shares of the asset manager’s stock worth $411,000 after acquiring an additional 12,500 shares during the period. 42.90% of the stock is currently owned by institutional investors and hedge funds.
PNNT stock traded up $0.07 during trading on Monday, hitting $6.75. 518,236 shares of the company’s stock traded hands, compared to its average volume of 341,275. The firm has a market cap of $474.69, a price-to-earnings ratio of 8.54, a PEG ratio of 4.48 and a beta of 1.13. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.79. PennantPark Investment Corp. has a 1 year low of $6.29 and a 1 year high of $8.20.
PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The company had revenue of $28.67 million for the quarter, compared to analyst estimates of $28.12 million. During the same period last year, the company posted $0.21 earnings per share. PennantPark Investment’s revenue was down 10.0% compared to the same quarter last year. analysts anticipate that PennantPark Investment Corp. will post 0.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 10.67%. The ex-dividend date is Friday, March 16th. PennantPark Investment’s dividend payout ratio is currently 91.14%.
In other news, Chairman Arthur H. Penn purchased 10,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $6.94 per share, with a total value of $69,400.00. Following the completion of the acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at $1,342,265.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 3rd. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 23rd. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a report on Saturday, March 24th. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Friday, February 9th. Finally, TheStreet lowered shares of PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.30.
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PennantPark Investment 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.
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