Legacy Capital Wealth Partners LLC Acquires 28,041 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Legacy Capital Wealth Partners LLC grew its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,560 shares of the asset manager’s stock after acquiring an additional 28,041 shares during the period. Legacy Capital Wealth Partners LLC owned about 0.36% of PennantPark Investment worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. LSV Asset Management boosted its holdings in PennantPark Investment by 16.3% in the 3rd quarter. LSV Asset Management now owns 2,101,737 shares of the asset manager’s stock worth $13,829,000 after buying an additional 295,060 shares during the period. Advisors Asset Management Inc. boosted its holdings in PennantPark Investment by 7.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 660,874 shares of the asset manager’s stock worth $4,349,000 after buying an additional 45,146 shares during the period. NewEdge Wealth LLC purchased a new stake in PennantPark Investment in the 4th quarter worth $1,869,000. Golden Green Inc. lifted its stake in PennantPark Investment by 2.0% in the 3rd quarter. Golden Green Inc. now owns 252,512 shares of the asset manager’s stock worth $1,662,000 after purchasing an additional 4,854 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in PennantPark Investment by 1,055.4% in the 4th quarter. International Assets Investment Management LLC now owns 216,629 shares of the asset manager’s stock worth $1,497,000 after purchasing an additional 197,879 shares in the last quarter. Institutional investors own 26.62% of the company’s stock.

Insider Buying and Selling

In other news, Director Jose A. Briones acquired 7,450 shares of PennantPark Investment stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $6.70 per share, with a total value of $49,915.00. Following the transaction, the director now directly owns 251,735 shares of the company’s stock, valued at approximately $1,686,624.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jose A. Briones bought 7,450 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $6.70 per share, for a total transaction of $49,915.00. Following the purchase, the director now directly owns 251,735 shares of the company’s stock, valued at $1,686,624.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jose A. Briones bought 6,122 shares of the company’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $6.86 per share, for a total transaction of $41,996.92. Following the completion of the purchase, the director now directly owns 261,657 shares in the company, valued at $1,794,967.02. The disclosure for this purchase can be found here. Insiders have bought 22,372 shares of company stock valued at $151,258 in the last ninety days. 3.00% of the stock is owned by company insiders.

PennantPark Investment Price Performance

PNNT stock traded up $0.08 during mid-day trading on Friday, hitting $7.13. The company had a trading volume of 350,367 shares, compared to its average volume of 364,312. The company has a market capitalization of $465.02 million, a price-to-earnings ratio of 9.64 and a beta of 1.52. PennantPark Investment Co. has a 12-month low of $4.70 and a 12-month high of $7.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.39. The company has a 50-day moving average price of $6.82 and a 200 day moving average price of $6.72.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $34.34 million for the quarter, compared to analysts’ expectations of $32.49 million. PennantPark Investment had a net margin of 32.55% and a return on equity of 14.17%. On average, research analysts anticipate that PennantPark Investment Co. will post 0.94 earnings per share for the current year.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 11.78%. The ex-dividend date of this dividend is Friday, April 12th. PennantPark Investment’s dividend payout ratio (DPR) is currently 113.52%.

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.