Arthur H. Penn Acquires 10,000 Shares of PennantPark Investment Corp. (PNNT) Stock
PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was acquired at an average cost of $7.38 per share, for a total transaction of $73,800.00. Following the acquisition, the chairman now directly owns 183,400 shares of the company’s stock, valued at $1,353,492. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
PennantPark Investment Corp. (NASDAQ:PNNT) traded up 0.54% during trading on Tuesday, hitting $7.40. The company had a trading volume of 383,491 shares. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.28. PennantPark Investment Corp. has a 12 month low of $4.65 and a 12 month high of $8.30.
PennantPark Investment Corp. (NASDAQ:PNNT) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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 business posted $0.27 earnings per share. On average, analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.
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PNNT has been the topic of several recent analyst reports. Zacks Investment Research raised PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Thursday, August 11th. Ladenburg Thalmann raised PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd. Jefferies Group reaffirmed a “hold” rating on shares of PennantPark Investment Corp. in a report on Friday, August 5th. JMP Securities raised their price objective on PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th. Finally, FBR & Co lowered PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating and set a $8.00 price objective on the stock. in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.17.
Several large investors have recently modified their holdings of PNNT. Berson & Corrado Investment Advisors LLC raised its stake in shares of PennantPark Investment Corp. by 0.8% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 69,230 shares of the company’s stock worth $473,000 after buying an additional 575 shares during the period. Trust Asset Management LLC raised its stake in shares of PennantPark Investment Corp. by 1.7% in the second quarter. Trust Asset Management LLC now owns 137,848 shares of the company’s stock worth $942,000 after buying an additional 2,312 shares during the period. Delphi Financial Group Inc. raised its stake 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. Bank of Montreal Can bought a new stake in shares of PennantPark Investment Corp. during the second quarter worth about $5,420,000. Finally, Essex Financial Services Inc. bought a new stake in shares of PennantPark Investment Corp. during the second quarter worth about $104,000. Institutional investors and hedge funds own 32.54% 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.
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