PennantPark Investment’s (PNNT) “Sell” Rating Reiterated at Compass Point

Compass Point restated their sell rating on shares of PennantPark Investment (NASDAQ:PNNT) in a research report released on Monday, Marketbeat reports. Compass Point currently has a $6.50 price target on the asset manager’s stock.

Several other analysts also recently weighed in on PNNT. Keefe, Bruyette & Woods upgraded PennantPark Investment to a hold rating in a research note on Friday, May 10th. Raymond James downgraded PennantPark Investment from an outperform rating to a market perform rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $6.88.

PennantPark Investment Trading Up 0.4 %

PNNT opened at $7.34 on Monday. The stock’s fifty day moving average is $7.52 and its two-hundred day moving average is $7.12. The company has a market capitalization of $478.71 million, a P/E ratio of 7.98 and a beta of 1.52. PennantPark Investment has a 52 week low of $6.01 and a 52 week high of $8.04. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.40.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $35.98 million for the quarter, compared to analysts’ expectations of $36.22 million. PennantPark Investment had a return on equity of 13.65% and a net margin of 40.14%. Analysts forecast that PennantPark Investment will post 0.92 earnings per share for the current year.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.96 annualized dividend and a dividend yield of 13.08%. PennantPark Investment’s dividend payout ratio (DPR) is presently 104.35%.

Hedge Funds Weigh In On PennantPark Investment

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of PennantPark Investment in the 4th quarter valued at about $52,000. Cape Investment Advisory Inc. acquired a new position in PennantPark Investment in the 4th quarter worth about $67,000. Parallel Advisors LLC raised its holdings in PennantPark Investment by 20.0% in the 4th quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock worth $87,000 after purchasing an additional 2,087 shares during the period. Tucker Asset Management LLC acquired a new position in PennantPark Investment in the 4th quarter worth about $90,000. Finally, Aigen Investment Management LP acquired a new position in PennantPark Investment in the 4th quarter worth about $101,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

PennantPark Investment Company Profile

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.