PennantPark Investment Corp. (PNNT) Scheduled to Post Earnings on Monday
PennantPark Investment Corp. (NASDAQ:PNNT) will release its earnings data after the market closes on Monday, November 21st. Analysts expect PennantPark Investment Corp. to post earnings of $0.26 per share for the quarter.
Shares of PennantPark Investment Corp. (NASDAQ:PNNT) traded up 0.13% on Friday, reaching $7.65. The company’s stock had a trading volume of 303,847 shares. PennantPark Investment Corp. has a 52 week low of $4.65 and a 52 week high of $8.30. The stock’s market capitalization is $543.61 million. The stock has a 50-day moving average of $7.54 and a 200 day moving average of $7.21.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its stake in PennantPark Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 384,853 shares of the company’s stock valued at $2,629,000 after buying an additional 48,943 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new stake in PennantPark Investment Corp. during the second quarter valued at about $2,355,000. Guggenheim Capital LLC increased its stake in PennantPark Investment Corp. by 4.7% in the second quarter. Guggenheim Capital LLC now owns 336,490 shares of the company’s stock valued at $2,298,000 after buying an additional 15,088 shares in the last quarter. Van ECK Associates Corp increased its stake in PennantPark Investment Corp. by 12.0% in the second quarter. Van ECK Associates Corp now owns 328,511 shares of the company’s stock valued at $2,244,000 after buying an additional 35,251 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in PennantPark Investment Corp. by 105.3% in the second quarter. Janney Montgomery Scott LLC now owns 261,794 shares of the company’s stock valued at $1,788,000 after buying an additional 134,259 shares in the last quarter. 32.81% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on PNNT shares. Zacks Investment Research cut PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Jefferies Group reaffirmed a “hold” rating on shares of PennantPark Investment Corp. in a report on Friday, August 12th. JMP Securities upped their price target on PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a report on Wednesday, August 10th. FBR & Co increased their target price on PennantPark Investment Corp. from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Finally, DA Davidson cut PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Wednesday, July 27th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.17.
About PennantPark Investment Corp.
PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.
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