PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by SMH Capital Advisors Inc.

SMH Capital Advisors Inc. reduced its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 34.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,210 shares of the asset manager’s stock after selling 35,183 shares during the period. PennantPark Investment makes up approximately 1.5% of SMH Capital Advisors Inc.’s holdings, making the stock its 15th largest holding. SMH Capital Advisors Inc.’s holdings in PennantPark Investment were worth $477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in PennantPark Investment in the 1st quarter worth approximately $1,941,000. Legacy Capital Wealth Partners LLC purchased a new position in shares of PennantPark Investment during the 2nd quarter worth $1,785,000. Condor Capital Management boosted its position in shares of PennantPark Investment by 81.9% during the 2nd quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock valued at $3,920,000 after acquiring an additional 233,685 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of PennantPark Investment by 599.0% in the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after purchasing an additional 187,787 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in shares of PennantPark Investment in the 1st quarter valued at approximately $748,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

Shares of PNNT stock opened at $7.03 on Wednesday. PennantPark Investment Co. has a twelve month low of $6.31 and a twelve month high of $8.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is $6.96 and its two-hundred day moving average is $7.18. The company has a market capitalization of $459.03 million, a P/E ratio of 10.65 and a beta of 1.52.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 13.66%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Investment’s payout ratio is 145.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PNNT shares. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a research report on Monday, September 9th. StockNews.com lowered PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

About PennantPark Investment

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.