PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn acquired 15,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $6.30 per share, for a total transaction of $94,500.00. Following the transaction, the chairman now owns 193,410 shares in the company, valued at $1,218,483. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:PNNT traded up $0.06 during trading hours on Tuesday, hitting $6.40. 144,027 shares of the company were exchanged, compared to its average volume of 474,528. The stock has a market cap of $428.39 million, a PE ratio of 8.53 and a beta of 1.14. PennantPark Investment Corp. has a 52-week low of $6.21 and a 52-week high of $7.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.26 and a quick ratio of 1.26. The company’s 50 day moving average is $6.44.

PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Wednesday, August 7th. The asset manager reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $28.11 million for the quarter, compared to analysts’ expectations of $29.38 million. PennantPark Investment had a return on equity of 8.08% and a net margin of 18.01%. As a group, equities research analysts predict that PennantPark Investment Corp. will post 0.72 EPS for the current year.

A number of research analysts have recently issued reports on the stock. BidaskClub raised shares of PennantPark Investment from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 18th. Raymond James assumed coverage on shares of PennantPark Investment in a research report on Monday, April 29th. They issued an “outperform” rating and a $8.00 price objective on the stock. ValuEngine downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Zacks Investment Research downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Compass Point downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $7.00 in a research report on Friday, May 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. PennantPark Investment currently has a consensus rating of “Hold” and an average price target of $7.50.

Large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC grew its position in PennantPark Investment by 2,255.0% during the 2nd quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock worth $25,000 after purchasing an additional 3,811 shares during the last quarter. Destination Wealth Management purchased a new stake in PennantPark Investment during the 1st quarter worth approximately $61,000. Moors & Cabot Inc. purchased a new stake in PennantPark Investment during the 1st quarter worth approximately $96,000. Squarepoint Ops LLC purchased a new stake in PennantPark Investment during the 4th quarter worth approximately $91,000. Finally, Quad Cities Investment Group LLC grew its position in PennantPark Investment by 7,500.0% during the 2nd quarter. Quad Cities Investment Group LLC now owns 15,200 shares of the asset manager’s stock worth $97,000 after purchasing an additional 15,000 shares during the last quarter. 43.04% of the stock is currently owned by institutional investors.

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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