PennantPark Investment (NASDAQ:PNNT) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday.

PNNT has been the topic of several other research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $8.50 price target on shares of PennantPark Investment in a report on Thursday, October 26th. TheStreet downgraded shares of PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. ValuEngine upgraded shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Finally, Jefferies Group reiterated a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a report on Sunday, November 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.30.

PennantPark Investment (NASDAQ:PNNT) opened at $6.90 on Friday. PennantPark Investment has a fifty-two week low of $6.29 and a fifty-two week high of $8.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.81. The stock has a market cap of $499.74, a PE ratio of 9.86, a PEG ratio of 4.59 and a beta of 1.22.

PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.57%. The company had revenue of $28.67 million for the quarter, compared to the consensus estimate of $28.12 million. During the same quarter in the prior year, the company earned $0.21 EPS. PennantPark Investment’s quarterly revenue was down 10.0% on a year-over-year basis. sell-side analysts forecast that PennantPark Investment will post 0.72 EPS for the current year.

In other news, Chairman Arthur H. Penn acquired 12,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were acquired at an average price of $7.31 per share, with a total value of $87,720.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,413,827.10. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aviv Efrat acquired 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $71,400.00. Following the purchase, the chief financial officer now directly owns 106,102 shares in the company, valued at $757,568.28. The disclosure for this purchase can be found here. Insiders have bought a total of 48,000 shares of company stock worth $344,280 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of PennantPark Investment by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,866,419 shares of the asset manager’s stock worth $14,016,000 after purchasing an additional 115,209 shares during the period. Relative Value Partners Group LLC grew its stake in shares of PennantPark Investment by 72.0% during the 3rd quarter. Relative Value Partners Group LLC now owns 539,102 shares of the asset manager’s stock worth $4,049,000 after purchasing an additional 225,618 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of PennantPark Investment by 179.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock worth $3,220,000 after purchasing an additional 299,280 shares during the period. BlackRock Inc. grew its stake in shares of PennantPark Investment by 8.3% during the 4th quarter. BlackRock Inc. now owns 453,436 shares of the asset manager’s stock worth $3,133,000 after purchasing an additional 34,870 shares during the period. Finally, B. Riley Financial Inc. grew its stake in shares of PennantPark Investment by 15.6% during the 4th quarter. B. Riley Financial Inc. now owns 404,820 shares of the asset manager’s stock worth $2,797,000 after purchasing an additional 54,550 shares during the period. 42.77% of the stock is currently owned by institutional investors and hedge funds.

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About PennantPark Investment

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.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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