PennantPark Investment Corp. (NASDAQ:PNNT) was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday. They presently have a $8.00 target price on the stock. FBR & Co’s price objective suggests a potential upside of 12.99% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded PennantPark Investment Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 12th. Ladenburg Thalmann upgraded PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday. JMP Securities increased their price target on PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research note on Wednesday, August 10th. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 5th. Finally, DA Davidson lowered PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $7.00 in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.17.

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

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.08 on Wednesday. The stock 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 1-year low of $4.65 and a 1-year high of $8.30. The company’s market cap is $503.10 million.

PennantPark Investment Corp. (NASDAQ:PNNT) last posted its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the 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 in the previous year, the business earned $0.27 earnings per share. Equities research analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PNNT. 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 last quarter. 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 last quarter. 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 last quarter. Bank of Montreal Can acquired a new position in shares of PennantPark Investment Corp. during the second quarter worth approximately $5,420,000. Finally, Burgundy Asset Management Ltd. acquired a new position in shares of PennantPark Investment Corp. during the second quarter worth approximately $4,911,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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PennantPark Investment Corp. Company Profile

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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