Aviv Efrat Acquires 28,000 Shares of PennantPark Investment Corp. (PNNT) Stock
PennantPark Investment Corp. (NASDAQ:PNNT) CFO Aviv Efrat bought 28,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were purchased at an average price of $7.08 per share, with a total value of $198,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 96,102 shares in the company, valued at $680,402.16. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.40 on Wednesday. PennantPark Investment Corp. has a 12 month low of $4.65 and a 12 month high of $8.30. The stock’s 50 day moving average price is $7.49 and its 200 day moving average price is $7.28.
PennantPark Investment Corp. (NASDAQ:PNNT) last released its earnings results 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 period in the prior year, the company posted $0.27 EPS. Equities research analysts anticipate 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 company. Mckinley Capital Management LLC Delaware purchased a new position in PennantPark Investment Corp. during the second quarter worth approximately $2,103,000. Assetmark Inc. increased its position in PennantPark Investment Corp. by 1.4% in the second quarter. Assetmark Inc. now owns 167,426 shares of the company’s stock worth $1,144,000 after buying an additional 2,285 shares in the last quarter. Stephens Inc. AR increased its position in PennantPark Investment Corp. by 5.7% in the second quarter. Stephens Inc. AR now owns 16,675 shares of the company’s stock worth $114,000 after buying an additional 905 shares in the last quarter. Janney Montgomery Scott LLC increased its position in PennantPark Investment Corp. by 152.7% in the second quarter. Janney Montgomery Scott LLC now owns 322,286 shares of the company’s stock worth $2,077,000 after buying an additional 194,751 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its position in 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. 32.54% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on PNNT. JMP Securities raised their target price 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. Zacks Investment Research cut PennantPark Investment Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 12th. FBR & Co cut PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating and set a $8.00 target price for the company. in a report on Wednesday, November 23rd. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 12th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $6.00 price objective on shares of PennantPark Investment Corp. in a research note on Saturday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.17.
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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