PennantPark Investment Co. (NASDAQ:PNNT) Given Average Rating of “Hold” by Brokerages

Shares of PennantPark Investment Co. (NASDAQ:PNNT – Get Rating) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $8.00.

Separately, StockNews.com assumed coverage on shares of PennantPark Investment in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Shares of PNNT stock opened at $6.04 on Thursday. PennantPark Investment has a 12 month low of $5.99 and a 12 month high of $8.02. The stock has a market cap of $399.44 million, a P/E ratio of 4.68 and a beta of 1.68. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $7.24.

PennantPark Investment (NASDAQ:PNNT – Get Rating) last issued its earnings results on Wednesday, May 4th. The asset manager reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. PennantPark Investment had a net margin of 88.94% and a return on equity of 6.59%. The firm had revenue of $24.34 million during the quarter, compared to analyst estimates of $26.01 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that PennantPark Investment will post 0.71 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 9.60%. The ex-dividend date is Thursday, June 16th. This is a positive change from PennantPark Investment’s previous quarterly dividend of $0.14. PennantPark Investment’s dividend payout ratio (DPR) is 44.96%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PNNT. BNP Paribas Arbitrage SA purchased a new position in shares of PennantPark Investment in the 1st quarter worth approximately $77,000. Leo Brokerage LLC purchased a new position in shares of PennantPark Investment in the 1st quarter worth approximately $78,000. Tompkins Financial Corp acquired a new stake in PennantPark Investment in the 1st quarter worth approximately $78,000. PVG Asset Management Corp acquired a new stake in PennantPark Investment in the 4th quarter worth approximately $87,000. Finally, Atlas Private Wealth Advisors acquired a new stake in PennantPark Investment in the 1st quarter worth approximately $89,000. 32.03% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Company Profile (Get Rating)

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.

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