Aviv Efrat Acquires 10,000 Shares of PennantPark Investment Corporation (PNNT) Stock
PennantPark Investment Corporation (NASDAQ:PNNT) CFO Aviv Efrat purchased 10,000 shares of PennantPark Investment stock in a transaction that occurred on Monday, December 4th. The stock was acquired at an average price of $7.14 per share, with a total value of $71,400.00. Following the transaction, the chief financial officer now owns 106,102 shares in the company, valued at $757,568.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of PennantPark Investment Corporation (PNNT) traded up $0.17 on Thursday, reaching $7.30. 718,500 shares of the company’s stock traded hands, compared to its average volume of 334,029. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The firm has a market cap of $506.66, a PE ratio of 9.03, a P/E/G ratio of 4.89 and a beta of 1.27. PennantPark Investment Corporation has a 12 month low of $6.67 and a 12 month high of $8.68.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $27.87 million during the quarter, compared to analyst estimates of $29.19 million. PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. sell-side analysts anticipate that PennantPark Investment Corporation will post 0.73 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Pinebridge Investments L.P. grew its stake in shares of PennantPark Investment by 0.8% during the 2nd 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 grew its stake in shares of PennantPark Investment by 44.8% during the 2nd 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 grew its stake in shares of PennantPark Investment by 49.0% during the 3rd 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 position in shares of PennantPark Investment during the 3rd quarter worth $199,000. Finally, Stifel Financial Corp grew its stake in shares of PennantPark Investment by 50.5% during the 2nd 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 and hedge funds.
Several research firms recently commented on PNNT. J P Morgan Chase & Co upgraded shares of PennantPark Investment from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $8.50 in a research report on Wednesday, August 9th. BidaskClub upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods set a $9.00 price target on shares of PennantPark Investment and gave the company a “hold” rating in a research report on Friday, August 25th. Jefferies Group reiterated a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a research report on Sunday, November 5th. Finally, ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $8.50.
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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.
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