PennantPark Investment Corp. (NASDAQ:PNNT) was upgraded by stock analysts at Ladenburg Thalmann from a “neutral” rating to a “buy” rating in a research note issued on Tuesday.

Other research analysts have also recently issued reports about the company. Jefferies Group reaffirmed a “hold” rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. DA Davidson cut PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $7.00 in a research report on Wednesday, July 27th. FBR & Co upped their target price on PennantPark Investment Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Thursday, August 11th. Finally, JMP Securities upped their target price on PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research report on Wednesday, August 10th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. PennantPark Investment Corp. has an average rating of “Hold” and an average target price of $7.17.

Analyst Recommendations for PennantPark Investment Corp. (NASDAQ:PNNT)

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.08 on Tuesday. The firm’s market capitalization is $503.10 million. The firm has a 50-day moving average price of $7.51 and a 200 day moving average price of $7.26. PennantPark Investment Corp. has a one year low of $4.65 and a one year high of $8.30.

PennantPark Investment Corp. (NASDAQ:PNNT) last released its quarterly earnings data on Monday, November 21st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a return on equity of 10.71% and a net margin of 4.38%. During the same period last year, the firm earned $0.27 EPS. Equities analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Delphi Financial Group Inc. increased its position in shares of PennantPark Investment Corp. by 0.9% in the second quarter. Delphi Financial Group Inc. now owns 1,837,526 shares of the company’s stock worth $12,532,000 after buying an additional 15,817 shares during the period. Ares Management LLC increased its position in shares of PennantPark Investment Corp. by 115.6% in the third quarter. Ares Management LLC now owns 963,259 shares of the company’s stock worth $7,244,000 after buying an additional 516,511 shares during the period. Muzinich & Co. Inc. increased its position in shares of PennantPark Investment Corp. by 23.4% in the third quarter. Muzinich & Co. Inc. now owns 809,431 shares of the company’s stock worth $6,087,000 after buying an additional 153,649 shares during the period. Bank of Montreal Can acquired a new position in shares of PennantPark Investment Corp. during the second quarter worth about $5,420,000. Finally, Burgundy Asset Management Ltd. acquired a new position in shares of PennantPark Investment Corp. during the second quarter worth about $4,911,000. 33.70% of the stock is owned by institutional investors and hedge funds.

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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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