Shares of PennantPark Investment Corp. (NASDAQ:PNNT) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.50.

Several brokerages have recently weighed in on PNNT. ValuEngine downgraded Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Compass Point downgraded Realogy from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $12.50 to $8.00 in a research note on Friday, May 3rd. BidaskClub upgraded WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded Silvercorp Metals from a “c+” rating to a “b-” rating in a research note on Tuesday. Finally, Raymond James initiated coverage on PennantPark Investment in a research note on Monday, April 29th. They issued an “outperform” rating and a $8.00 price target for the company.

Shares of PennantPark Investment stock traded up $0.04 during trading hours on Friday, hitting $6.63. 2,540 shares of the company’s stock traded hands, compared to its average volume of 278,999. The stock has a 50 day moving average of $6.39. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $441.79 million, a P/E ratio of 8.83 and a beta of 1.14. PennantPark Investment has a twelve month low of $6.21 and a twelve month high of $7.84.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Thursday, May 9th. The asset manager reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $28.69 million for the quarter, compared to analyst estimates of $28.89 million. PennantPark Investment had a net margin of 28.97% and a return on equity of 7.94%. As a group, sell-side analysts anticipate that PennantPark Investment will post 0.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a $0.18 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 10.86%. PennantPark Investment’s dividend payout ratio (DPR) is 96.00%.

In related news, Chairman Arthur H. Penn bought 16,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $6.52 per share, for a total transaction of $104,320.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,261,033.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Arthur H. Penn bought 15,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $6.58 per share, with a total value of $98,700.00. Following the completion of the purchase, the chairman now owns 193,410 shares of the company’s stock, valued at $1,272,637.80. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. raised its holdings in shares of PennantPark Investment by 0.7% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 194,082 shares of the asset manager’s stock valued at $1,236,000 after buying an additional 1,425 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of PennantPark Investment by 4.9% during the fourth quarter. Stifel Financial Corp now owns 32,300 shares of the asset manager’s stock valued at $207,000 after buying an additional 1,500 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its holdings in shares of PennantPark Investment by 0.8% during the first quarter. Mckinley Capital Management LLC Delaware now owns 305,603 shares of the asset manager’s stock valued at $2,112,000 after buying an additional 2,414 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of PennantPark Investment by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 20,898 shares of the asset manager’s stock valued at $129,000 after buying an additional 2,459 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of PennantPark Investment by 30.5% during the fourth quarter. Bank of America Corp DE now owns 16,860 shares of the asset manager’s stock valued at $108,000 after buying an additional 3,936 shares during the last quarter. Institutional investors own 43.97% of the company’s stock.

About PennantPark Investment

PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

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Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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