PennantPark Investment Co. (NASDAQ:PNNT) Declares Monthly Dividend of $0.08

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, November 4th. Stockholders of record on Monday, November 17th will be given a dividend of 0.08 per share by the asset manager on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date of this dividend is Monday, November 17th.

PennantPark Investment has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. PennantPark Investment has a payout ratio of 135.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 120.0%.

PennantPark Investment Stock Performance

Shares of NASDAQ PNNT traded down $0.08 during midday trading on Wednesday, hitting $6.41. 71,122 shares of the company’s stock traded hands, compared to its average volume of 484,873. The firm has a fifty day moving average of $6.76 and a 200 day moving average of $6.84. The stock has a market capitalization of $418.55 million, a price-to-earnings ratio of 24.77 and a beta of 1.00. PennantPark Investment has a 1 year low of $5.72 and a 1 year high of $7.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PNNT. EverSource Wealth Advisors LLC boosted its stake in PennantPark Investment by 100.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,695 shares of the asset manager’s stock worth $25,000 after buying an additional 1,853 shares during the period. Quarry LP purchased a new position in PennantPark Investment during the first quarter worth $34,000. First Horizon Advisors Inc. bought a new stake in shares of PennantPark Investment during the second quarter worth $35,000. Allworth Financial LP lifted its position in shares of PennantPark Investment by 7,742.4% during the second quarter. Allworth Financial LP now owns 9,254 shares of the asset manager’s stock worth $63,000 after purchasing an additional 9,136 shares during the last quarter. Finally, Disciplined Investments LLC bought a new stake in shares of PennantPark Investment during the third quarter worth $81,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.