PennantPark Investment Corp. (NASDAQ:PNNT) shares saw unusually-strong trading volume on Friday . Approximately 1,836,065 shares changed hands during mid-day trading, an increase of 267% from the previous session’s volume of 499,786 shares.The stock last traded at $7.71 and had previously closed at $7.79.

Several analysts have recently commented on PNNT shares. Zacks Investment Research downgraded PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. JMP Securities raised their target price on PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. Jefferies Group restated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 5th. JPMorgan Chase & Co. downgraded PennantPark Investment Corp. from an “overweight” rating to a “neutral” rating and set a $7.00 target price for the company. in a research note on Monday, July 18th. Finally, FBR & Co raised their price target on shares of PennantPark Investment Corp. from $7.50 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.36.

The company has a 50-day moving average of $7.68 and a 200-day moving average of $6.79.

PennantPark Investment Corp. (NASDAQ:PNNT) last posted its earnings results on Monday, August 8th. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. PennantPark Investment Corp. had a negative net margin of 5.09% and a positive return on equity of 11.20%. The company earned $35.54 million during the quarter, compared to analysts’ expectations of $35.47 million. During the same period last year, the company posted $0.28 earnings per share. PennantPark Investment Corp.’s quarterly revenue was down 12.5% on a year-over-year basis. On average, equities analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Wednesday, September 21st will be paid a $0.28 dividend. The ex-dividend date is Monday, September 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 14.53%. PennantPark Investment Corp.’s payout ratio is currently -1,244.31%.

Several institutional investors have recently modified their holdings of PNNT. BlackRock Group LTD boosted its position in shares of PennantPark Investment Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 335,910 shares of the company’s stock worth $2,036,000 after buying an additional 7,363 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PennantPark Investment Corp. by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 2,116,857 shares of the company’s stock worth $12,829,000 after buying an additional 42,711 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of PennantPark Investment Corp. during the first quarter worth approximately $112,000. Legal & General Group Plc boosted its position in shares of PennantPark Investment Corp. by 26.5% in the first quarter. Legal & General Group Plc now owns 141,549 shares of the company’s stock worth $855,000 after buying an additional 29,638 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of PennantPark Investment Corp. by 12.3% in the first quarter. LPL Financial LLC now owns 24,442 shares of the company’s stock worth $152,000 after buying an additional 2,668 shares during the last quarter. 33.42% of the stock is owned by institutional investors and hedge funds.

About PennantPark Investment Corp.

PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.

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