PennantPark Investment Co. (NASDAQ:PNNT) Shares Purchased by EMC Capital Management

EMC Capital Management increased its position in PennantPark Investment Co. (NASDAQ:PNNT) by 58.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,789 shares of the asset manager’s stock after purchasing an additional 11,721 shares during the quarter. EMC Capital Management’s holdings in PennantPark Investment were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Verition Fund Management LLC acquired a new position in PennantPark Investment during the 3rd quarter worth $74,000. Quantbot Technologies LP acquired a new stake in shares of PennantPark Investment in the 3rd quarter worth about $133,000. Paloma Partners Management Co bought a new stake in PennantPark Investment in the 3rd quarter valued at about $173,000. Kovack Advisors Inc. boosted its stake in PennantPark Investment by 4.6% during the 3rd quarter. Kovack Advisors Inc. now owns 45,350 shares of the asset manager’s stock valued at $317,000 after purchasing an additional 2,000 shares during the period. Finally, Grimes & Company Inc. bought a new position in PennantPark Investment in the 4th quarter worth about $443,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH downgraded PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.00.

PennantPark Investment Stock Up 1.2 %

PNNT stock opened at $7.02 on Friday. The firm’s 50-day moving average is $6.96 and its two-hundred day moving average is $6.99. The company has a market capitalization of $458.08 million, a price-to-earnings ratio of 7.53 and a beta of 1.47. PennantPark Investment Co. has a 52 week low of $6.43 and a 52 week high of $8.04. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date is Wednesday, January 15th. PennantPark Investment’s dividend payout ratio is presently 564.74%.

PennantPark Investment 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.