PennantPark Investment Corporation (NASDAQ:PNNT) Chairman Arthur H. Penn acquired 12,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was purchased at an average cost of $7.10 per share, for a total transaction of $85,200.00. Following the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,373,211. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of PennantPark Investment Corporation (PNNT) opened at $7.13 on Wednesday. The stock has a market capitalization of $509.51, a price-to-earnings ratio of 9.08, a PEG ratio of 4.92 and a beta of 1.27. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment Corporation has a 52-week low of $6.67 and a 52-week high of $8.68.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $27.87 million for the quarter, compared to analyst estimates of $29.19 million. PennantPark Investment had a return on equity of 8.72% and a net margin of 49.55%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. research analysts anticipate that PennantPark Investment Corporation will post 0.73 EPS for the current fiscal year.

A number of analysts have recently commented on PNNT shares. Zacks Investment Research downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods set a $9.00 price objective on PennantPark Investment and gave the stock a “hold” rating in a research note on Friday, August 25th. Jefferies Group reissued a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment in a research note on Sunday, November 5th. Finally, BidaskClub downgraded PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.50.

Institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. raised its position in shares of PennantPark Investment by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager’s stock worth $167,000 after purchasing an additional 169 shares during the period. Stephens Inc. AR raised its position in shares of PennantPark Investment by 44.8% during the second quarter. Stephens Inc. AR now owns 23,964 shares of the asset manager’s stock worth $177,000 after purchasing an additional 7,414 shares during the period. Global X MANAGEMENT CO LLC raised its position in shares of PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock worth $186,000 after purchasing an additional 8,165 shares during the period. Stevens Capital Management LP acquired a new stake in shares of PennantPark Investment during the third quarter worth $199,000. Finally, Stifel Financial Corp raised its position in shares of PennantPark Investment by 50.5% during the second quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock worth $205,000 after purchasing an additional 9,300 shares during the period. 42.62% of the stock is currently owned by institutional investors.

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PennantPark Investment 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.

Insider Buying and Selling by Quarter for PennantPark Investment (NASDAQ:PNNT)

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