Kovack Advisors Inc. Buys 2,000 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Kovack Advisors Inc. increased its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 4.6% during the 3rd quarter, Holdings Channel reports. The fund owned 45,350 shares of the asset manager’s stock after acquiring an additional 2,000 shares during the period. Kovack Advisors Inc.’s holdings in PennantPark Investment were worth $317,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PNNT. Brookstone Capital Management bought a new position in shares of PennantPark Investment during the 2nd quarter worth about $105,000. EMC Capital Management raised its stake in PennantPark Investment by 10.5% during the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock worth $219,000 after buying an additional 3,014 shares during the period. Founders Financial Alliance LLC boosted its holdings in PennantPark Investment by 28.0% in the second quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock worth $357,000 after acquiring an additional 10,339 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in PennantPark Investment by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 3,402 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of PennantPark Investment during the first quarter valued at approximately $648,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

Shares of PennantPark Investment stock opened at $6.92 on Friday. PennantPark Investment Co. has a 52 week low of $6.31 and a 52 week high of $8.04. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average price of $6.96 and a 200-day moving average price of $7.18. The company has a market cap of $451.88 million, a PE ratio of 10.49 and a beta of 1.52.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 13.87%. The ex-dividend date is Friday, November 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 145.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on PNNT. StockNews.com downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a 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.