PennantPark Investment Corporation (NASDAQ:PNNT) Earns Daily News Impact Rating of 0.17
News articles about PennantPark Investment Corporation (NASDAQ:PNNT) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm rates the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. PennantPark Investment Corporation earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned media headlines about the asset manager an impact score of 100 out of 100, indicating that recent news coverage is extremely likely to have an effect on the company’s share price in the near term.
Here are some of the media headlines that may have impacted Accern Sentiment’s analysis:
- PennantPark Investment Corp (PNNT) Ends Recent Session Above PSAR – FLBC News (flbcnews.com)
- Zacks: Brokerages Anticipate PennantPark Investment Corp. (NASDAQ:PNNT) Will Post Quarterly Sales of $31.42 Million (americanbankingnews.com)
- PennantPark Investment Corporation (PNNT) Set to Announce Quarterly Earnings on Monday (americanbankingnews.com)
- Financial Comparison: Prospect Capital Corporation (PSEC) & PennantPark Investment Corporation (PNNT) (americanbankingnews.com)
- Zacks: Analysts Anticipate PennantPark Investment Corporation (PNNT) to Announce $0.21 EPS (americanbankingnews.com)
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Wednesday, May 3rd. JMP Securities cut shares of PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment Corporation in a report on Friday, April 21st. Compass Point assumed coverage on shares of PennantPark Investment Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $8.50 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment Corporation in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.19.
PennantPark Investment Corporation (NASDAQ PNNT) traded down 0.93% during mid-day trading on Friday, reaching $7.44. 189,317 shares of the company’s stock traded hands. PennantPark Investment Corporation has a 12 month low of $6.86 and a 12 month high of $8.68. The firm’s 50-day moving average price is $7.44 and its 200 day moving average price is $7.82.
PennantPark Investment Corporation (NASDAQ:PNNT) last issued its earnings results on Monday, May 8th. The asset manager reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $33.70 million during the quarter, compared to analysts’ expectations of $33.29 million. PennantPark Investment Corporation had a return on equity of 9.98% and a net margin of 58.91%. PennantPark Investment Corporation’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. Equities analysts predict that PennantPark Investment Corporation will post $0.85 EPS for the current year.
In related news, Chairman Arthur H. Penn acquired 32,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $7.72 per share, for a total transaction of $247,040.00. Following the completion of the purchase, the chairman now directly owns 183,400 shares of the company’s stock, valued at approximately $1,415,848. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arthur H. Penn acquired 17,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $7.77 per share, with a total value of $132,090.00. Following the completion of the purchase, the chief executive officer now directly owns 183,400 shares of the company’s stock, valued at $1,425,018. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 77,000 shares of company stock valued at $596,970. 1.90% of the stock is owned by company insiders.
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About PennantPark Investment Corporation
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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