PennantPark Investment Co. (NASDAQ:PNNT) Stock Holdings Increased by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 25.8% in the 4th quarter, HoldingsChannel reports. The firm owned 57,050 shares of the asset manager’s stock after purchasing an additional 11,700 shares during the quarter. Kovack Advisors Inc.’s holdings in PennantPark Investment were worth $404,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its position in PennantPark Investment by 6.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after buying an additional 40,487 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of PennantPark Investment by 16.4% in the 3rd quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock worth $2,530,000 after acquiring an additional 50,907 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of PennantPark Investment by 0.9% in the third quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager’s stock valued at $2,115,000 after acquiring an additional 2,563 shares in the last quarter. NewEdge Wealth LLC increased its stake in shares of PennantPark Investment by 1.2% during the fourth quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager’s stock valued at $2,030,000 after acquiring an additional 3,470 shares during the period. Finally, Legacy Capital Wealth Partners LLC lifted its position in PennantPark Investment by 1.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 240,200 shares of the asset manager’s stock worth $1,679,000 after purchasing an additional 3,744 shares during the period. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Stock Up 2.0 %

NASDAQ PNNT opened at $7.26 on Friday. PennantPark Investment Co. has a 12 month low of $6.43 and a 12 month high of $8.04. The company has a market capitalization of $473.72 million, a P/E ratio of 27.90 and a beta of 1.47. The company’s 50 day simple moving average is $7.08 and its 200 day simple moving average is $6.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47.

PennantPark Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.96 annualized dividend and a dividend yield of 13.23%. PennantPark Investment’s dividend payout ratio is currently 369.23%.

Wall Street Analyst Weigh In

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

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.