PennantPark Investment Corp. (NASDAQ:PNNT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

According to Zacks, “PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of mezzanine debt, senior secured loans and equity investments. The companies in which it invests are typically highly leveraged, often as a result of leveraged buy-outs or other recapitalization transactions. PennantPark’s investment objectives are to generate both current income and capital appreciation through debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC. “

Several other equities research analysts have also recently commented on the stock. DA Davidson cut shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $7.00 in a research report on Wednesday, July 27th. JMP Securities boosted their price objective on shares of 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 boosted their price objective on shares of PennantPark Investment Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, August 9th. Jefferies Group restated a “hold” rating on shares of PennantPark Investment Corp. in a report on Friday, August 5th. Finally, Ladenburg Thalmann upgraded shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. PennantPark Investment Corp. presently has an average rating of “Hold” and a consensus target price of $7.17.

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

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.26 on Thursday. PennantPark Investment Corp. has a 52 week low of $4.65 and a 52 week high of $8.30. The stock’s 50 day moving average is $7.50 and its 200 day moving average is $7.26.

PennantPark Investment Corp. (NASDAQ:PNNT) last issued its quarterly earnings results 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 10.77% and a net margin of 4.38%. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. acquired a new stake in shares of PennantPark Investment Corp. during the second quarter worth approximately $102,000. Societe Generale acquired a new stake in shares of PennantPark Investment Corp. during the second quarter worth approximately $104,000. Essex Financial Services Inc. acquired a new stake in shares of PennantPark Investment Corp. during the second quarter worth approximately $104,000. Sheaff Brock Investment Advisors LLC raised its stake in shares of PennantPark Investment Corp. by 4.5% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,750 shares of the company’s stock worth $108,000 after buying an additional 680 shares in the last quarter. Finally, GAM Holding AG acquired a new stake in shares of PennantPark Investment Corp. during the third quarter worth approximately $113,000. Institutional investors own 33.70% of the company’s stock.

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.

5 Day Chart for NASDAQ:PNNT

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