Jeffrey Flug Sells 15,000 Shares of PennantPark Investment (NASDAQ:PNNT) Stock

PennantPark Investment Co. (NASDAQ:PNNT) Director Jeffrey Flug sold 15,000 shares of PennantPark Investment stock in a transaction on Friday, November 28th. The shares were sold at an average price of $6.06, for a total value of $90,900.00. Following the completion of the transaction, the director owned 228,318 shares in the company, valued at $1,383,607.08. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jeffrey Flug also recently made the following trade(s):

• On Monday, December 1st, Jeffrey Flug sold 21,100 shares of PennantPark Investment stock. The stock was sold at an average price of $6.04, for a total value of $127,444.00.
• On Wednesday, November 26th, Jeffrey Flug sold 25,000 shares of PennantPark Investment stock. The stock was sold at an average price of $6.03, for a total value of $150,750.00.

PennantPark Investment Stock Down 1.7%

PNNT stock traded down $0.10 during trading on Tuesday, reaching $5.78. 1,586,987 shares of the company traded hands, compared to its average volume of 510,410. The business has a 50 day simple moving average of $6.45 and a 200 day simple moving average of $6.81. PennantPark Investment Co. has a 12 month low of $5.66 and a 12 month high of $7.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $377.28 million, a price-to-earnings ratio of 22.22 and a beta of 0.97.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 16.6%. PennantPark Investment’s payout ratio is presently 192.00%.

Analysts Set New Price Targets

Several research firms recently commented on PNNT. JPMorgan Chase & Co. reduced their price objective on shares of PennantPark Investment from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Keefe, Bruyette & Woods reduced their price target on PennantPark Investment from $6.25 to $5.50 and set an “underperform” rating on the stock in a research report on Wednesday, November 26th. Finally, Truist Financial lowered their price objective on PennantPark Investment from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, PennantPark Investment has an average rating of “Reduce” and an average target price of $5.94.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. raised its holdings in shares of PennantPark Investment by 32.1% in the first quarter. Atria Wealth Solutions Inc. now owns 25,541 shares of the asset manager’s stock worth $182,000 after buying an additional 6,206 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of PennantPark Investment by 8.3% in the 1st quarter. Founders Financial Alliance LLC now owns 63,494 shares of the asset manager’s stock valued at $446,000 after acquiring an additional 4,852 shares during the period. Condor Capital Management raised its stake in PennantPark Investment by 4.4% in the 1st quarter. Condor Capital Management now owns 206,171 shares of the asset manager’s stock worth $1,449,000 after acquiring an additional 8,738 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in PennantPark Investment during the 1st quarter worth about $198,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in PennantPark Investment by 7.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 89,022 shares of the asset manager’s stock worth $626,000 after acquiring an additional 6,230 shares during the period. Institutional investors and hedge funds own 26.62% of the company’s stock.

About PennantPark Investment

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.