PennantPark Investment Co. (PNNT) To Go Ex-Dividend on October 15th

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Friday, October 2nd. Shareholders of record on Thursday, October 15th will be given a dividend of $0.04 per share by the asset manager on Monday, November 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 15.0%. The ex-dividend date of this dividend is Thursday, October 15th.

PennantPark Investment has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 1 years. PennantPark Investment has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Trading Up 0.5%

Shares of PNNT opened at $3.19 on Tuesday. The business’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.81. PennantPark Investment has a twelve month low of $3.14 and a twelve month high of $6.67. The stock has a market cap of $208.62 million, a PE ratio of 12.29 and a beta of 0.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

Institutional Investors Weigh In On PennantPark Investment

A number of large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in PennantPark Investment by 127,180.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,364 shares of the asset manager’s stock worth $38,000 after purchasing an additional 6,359 shares during the period. Apollon Wealth Management LLC bought a new stake in PennantPark Investment in the first quarter worth $46,000. Group One Trading LLC bought a new stake in PennantPark Investment in the second quarter worth $78,000. Two Sigma Securities LLC boosted its position in PennantPark Investment by 43.1% during the second quarter. Two Sigma Securities LLC now owns 25,499 shares of the asset manager’s stock valued at $88,000 after buying an additional 7,685 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in PennantPark Investment during the second quarter valued at about $172,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a business development company that provides financing to privately held, middle-market businesses. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Its investment portfolio primarily includes senior secured loans, second-lien loans, subordinated debt and equity investments. PennantPark Investment generally focuses on companies across a range of industries and uses its financing to support acquisitions, recapitalizations, growth initiatives and other corporate activities.

Founded in 2007, PennantPark Investment is externally managed by PennantPark Investment Advisers, an affiliate of PennantPark Investment Advisors.