Paloma Partners Management Co Purchases Shares of 24,733 PennantPark Investment Co. (NASDAQ:PNNT)

Paloma Partners Management Co acquired a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,733 shares of the asset manager’s stock, valued at approximately $173,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNNT. Legacy Capital Wealth Partners LLC acquired a new stake in shares of PennantPark Investment during the 2nd quarter worth about $1,785,000. Condor Capital Management increased its holdings in shares of PennantPark Investment by 81.9% during the second quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock worth $3,920,000 after buying an additional 233,685 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of PennantPark Investment by 599.0% in the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after acquiring an additional 187,787 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of PennantPark Investment in the first quarter valued at approximately $748,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PennantPark Investment by 14.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 661,933 shares of the asset manager’s stock worth $4,998,000 after acquiring an additional 83,483 shares in the last quarter. 26.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNNT has been the subject of several research analyst reports. Compass Point upgraded PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a research report on Monday, September 9th. LADENBURG THALM/SH SH lowered PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Price Performance

PNNT opened at $6.86 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The company’s 50 day simple moving average is $6.93 and its 200-day simple moving average is $7.14. PennantPark Investment Co. has a one year low of $6.31 and a one year high of $8.04. The stock has a market capitalization of $447.96 million, a P/E ratio of 40.36 and a beta of 1.49.

PennantPark Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.96 annualized dividend and a dividend yield of 13.99%. PennantPark Investment’s dividend payout ratio (DPR) is currently 564.74%.

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.