According to Zacks, “PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of mezzanine debt, senior secured loans and equity investments. The companies in which it invests are typically highly leveraged, often as a result of leveraged buy-outs or other recapitalization transactions. PennantPark’s investment objectives are to generate both current income and capital appreciation through debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC. “
Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of PennantPark Investment from a b- rating to a c rating in a report on Tuesday, July 16th. BidaskClub raised shares of PennantPark Investment from a strong sell rating to a sell rating in a report on Thursday, July 18th. Compass Point cut shares of PennantPark Investment from a buy rating to a neutral rating and dropped their target price for the stock from $8.50 to $7.00 in a report on Friday, May 3rd. LADENBURG THALM/SH SH cut shares of PennantPark Investment from a buy rating to a neutral rating in a report on Monday, May 13th. Finally, ValuEngine cut shares of PennantPark Investment from a hold rating to a sell rating in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. PennantPark Investment has a consensus rating of Hold and an average target price of $7.50.
PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, August 7th. The asset manager reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $28.11 million during the quarter, compared to the consensus estimate of $29.38 million. PennantPark Investment had a return on equity of 8.08% and a net margin of 18.01%. As a group, equities analysts predict that PennantPark Investment will post 0.72 EPS for the current fiscal year.
In other news, Chairman Arthur H. Penn acquired 15,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $6.30 per share, with a total value of $94,500.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,218,483. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 45,000 shares of company stock valued at $285,600 in the last ninety days. 2.00% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware increased its stake in shares of PennantPark Investment by 0.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 305,603 shares of the asset manager’s stock valued at $2,112,000 after buying an additional 2,414 shares during the period. LPL Financial LLC increased its position in PennantPark Investment by 3.5% during the 2nd quarter. LPL Financial LLC now owns 102,299 shares of the asset manager’s stock valued at $647,000 after purchasing an additional 3,483 shares during the period. Quantamental Technologies LLC increased its position in PennantPark Investment by 2,255.0% during the 2nd quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 3,811 shares during the period. Bank of America Corp DE increased its position in PennantPark Investment by 30.5% during the 4th quarter. Bank of America Corp DE now owns 16,860 shares of the asset manager’s stock valued at $108,000 after purchasing an additional 3,936 shares during the period. Finally, Aperio Group LLC increased its position in PennantPark Investment by 6.0% during the 2nd quarter. Aperio Group LLC now owns 82,992 shares of the asset manager’s stock valued at $525,000 after purchasing an additional 4,665 shares during the period. 41.87% of the stock is owned by institutional investors.
PennantPark Investment Company Profile
PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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