PennantPark Investment (NASDAQ:PNNT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of PennantPark Investment Co. (NASDAQ:PNNT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.00 and traded as high as $7.11. PennantPark Investment shares last traded at $7.08, with a volume of 353,550 shares traded.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH cut shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, PennantPark Investment presently has a consensus rating of “Hold” and an average price target of $6.00.

PennantPark Investment Price Performance

The stock’s 50-day moving average is $7.09 and its 200-day moving average is $7.00. The firm has a market cap of $464.58 million, a P/E ratio of 27.37 and a beta of 1.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 13.49%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Investment’s dividend payout ratio (DPR) is presently 369.23%.

Institutional Investors Weigh In On PennantPark Investment

Several institutional investors and hedge funds have recently bought and sold shares of PNNT. Millennium Management LLC bought a new stake in PennantPark Investment in the 4th quarter valued at $3,097,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PennantPark Investment in the 4th quarter valued at $2,470,000. Two Sigma Investments LP increased its holdings in PennantPark Investment by 24.2% in the 4th quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager’s stock valued at $6,474,000 after buying an additional 178,423 shares during the period. Two Sigma Advisers LP increased its holdings in PennantPark Investment by 10.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,318,818 shares of the asset manager’s stock valued at $9,337,000 after buying an additional 127,100 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in PennantPark Investment in the 4th quarter valued at $632,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company 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.