PennantPark Investment Co. (NASDAQ:PNNT) has been assigned an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.00.
PNNT has been the topic of several research reports. JMP Securities initiated coverage on PennantPark Investment in a research report on Tuesday, March 9th. They set a “market perform” rating on the stock. TheStreet upgraded PennantPark Investment from a “c-” rating to a “b-” rating in a research report on Friday, February 12th.
Shares of PNNT stock traded up $0.06 during trading hours on Friday, reaching $6.07. The company’s stock had a trading volume of 9,350 shares, compared to its average volume of 548,971. The stock has a market capitalization of $406.96 million, a P/E ratio of -25.04 and a beta of 1.98. PennantPark Investment has a one year low of $2.64 and a one year high of $6.22. The firm’s fifty day simple moving average is $5.73 and its 200 day simple moving average is $4.57. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.08.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Thursday, March 18th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 7.91%. PennantPark Investment’s dividend payout ratio is presently 78.69%.
Large investors have recently made changes to their positions in the business. Koshinski Asset Management Inc. purchased a new position in PennantPark Investment during the fourth quarter valued at $287,000. Sheaff Brock Investment Advisors LLC purchased a new position in PennantPark Investment during the fourth quarter valued at $52,000. Virtu Financial LLC purchased a new position in PennantPark Investment during the third quarter valued at $37,000. Two Sigma Securities LLC purchased a new position in PennantPark Investment during the third quarter valued at $39,000. Finally, Quad Cities Investment Group LLC purchased a new position in PennantPark Investment during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 29.94% of the company’s stock.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a business development company. It 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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