Somewhat Favorable Media Coverage Somewhat Unlikely to Affect PennantPark Investment Corporation (PNNT) Share Price
News coverage about PennantPark Investment Corporation (NASDAQ:PNNT) has trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PennantPark Investment Corporation earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave media coverage about the asset manager an impact score of 47.0057008708571 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
PNNT has been the subject of several research reports. Compass Point initiated coverage on shares of PennantPark Investment Corporation in a research note on Thursday, July 13th. They issued a “buy” rating and a $8.50 price target for the company. Jefferies Group LLC restated a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment Corporation in a research note on Friday, July 14th. Keefe, Bruyette & Woods set a $9.00 price target on shares of PennantPark Investment Corporation and gave the stock a “hold” rating in a research note on Saturday, June 24th. BidaskClub upgraded shares of PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co upgraded shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $8.50 in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.25.
PennantPark Investment Corporation (NASDAQ:PNNT) opened at 7.51 on Friday. The company’s 50 day moving average is $7.56 and its 200-day moving average is $7.67. PennantPark Investment Corporation has a 52 week low of $6.86 and a 52 week high of $8.68.
PennantPark Investment Corporation (NASDAQ:PNNT) last issued its earnings results on Monday, August 7th. The asset manager reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. The business had revenue of $31.10 million during the quarter, compared to analysts’ expectations of $31.09 million. During the same period in the prior year, the business posted $0.25 EPS. The business’s revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that PennantPark Investment Corporation will post $0.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.59%. The ex-dividend date of this dividend is Tuesday, September 19th. PennantPark Investment Corporation’s dividend payout ratio is presently 74.23%.
In other news, Chairman Arthur H. Penn purchased 32,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $7.72 per share, with a total value of $247,040.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $7.62 per share, for a total transaction of $213,360.00. Following the purchase, the chairman now directly owns 193,410 shares in the company, valued at $1,473,784.20. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.
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PennantPark Investment Corporation Company Profile
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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