PennantPark Investment Corporation (NASDAQ:PNNT) Rating Reiterated by Jefferies Group LLC

Jefferies Group LLC reaffirmed their hold rating on shares of PennantPark Investment Corporation (NASDAQ:PNNT) in a research report sent to investors on Sunday, November 5th. They currently have a $8.00 price target on the asset manager’s stock.

A number of other research analysts also recently commented on PNNT. BidaskClub upgraded PennantPark Investment Corporation from a sell rating to a hold rating in a research note on Friday, August 11th. J P Morgan Chase & Co upgraded PennantPark Investment Corporation from a neutral rating to an overweight rating and boosted their target price for the company from $8.00 to $8.50 in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 price target on PennantPark Investment Corporation and gave the stock a hold rating in a research note on Friday, August 25th. Zacks Investment Research upgraded PennantPark Investment Corporation from a sell rating to a hold rating in a research note on Wednesday, October 11th. Finally, Compass Point initiated coverage on PennantPark Investment Corporation in a research note on Thursday, July 13th. They set a buy rating and a $8.50 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $8.08.

PennantPark Investment Corporation (NASDAQ:PNNT) traded down $0.03 during trading hours on Friday, reaching $7.54. The company had a trading volume of 139,169 shares, compared to its average volume of 323,396. The firm has a market capitalization of $537.93, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 4.93 and a beta of 1.30. PennantPark Investment Corporation has a 52-week low of $7.03 and a 52-week high of $8.68. The company has a quick ratio of 4.54, a current ratio of 4.54 and a debt-to-equity ratio of 0.84.

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A number of institutional investors have recently bought and sold shares of PNNT. LSV Asset Management raised its holdings in shares of PennantPark Investment Corporation by 36.9% in the 2nd quarter. LSV Asset Management now owns 2,741,127 shares of the asset manager’s stock worth $20,256,000 after buying an additional 738,141 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in PennantPark Investment Corporation during the 3rd quarter worth approximately $1,897,000. Relative Value Partners Group LLC grew its position in PennantPark Investment Corporation by 72.0% during the 3rd quarter. Relative Value Partners Group LLC now owns 539,102 shares of the asset manager’s stock worth $4,049,000 after acquiring an additional 225,618 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in PennantPark Investment Corporation in the 2nd quarter valued at $1,412,000. Finally, GSA Capital Partners LLP boosted its position in PennantPark Investment Corporation by 90.3% in the 2nd quarter. GSA Capital Partners LLP now owns 332,665 shares of the asset manager’s stock valued at $2,458,000 after buying an additional 157,852 shares during the last quarter. 41.33% of the stock is owned by hedge funds and other institutional investors.

About PennantPark Investment Corporation

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

Analyst Recommendations for PennantPark Investment Corporation (NASDAQ:PNNT)

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