PennantPark Investment (NASDAQ:PNNT) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday, BidAskClub reports.

PNNT has been the topic of a number of other reports. JPMorgan Chase & Co. lowered shares of PennantPark Investment from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $6.50 to $6.00 in a research note on Tuesday, October 29th. Zacks Investment Research upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, ValuEngine upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. PennantPark Investment presently has a consensus rating of “Hold” and an average target price of $7.25.

Shares of NASDAQ:PNNT opened at $6.16 on Tuesday. The company’s fifty day moving average price is $6.08 and its 200 day moving average price is $6.31. PennantPark Investment has a 12 month low of $5.84 and a 12 month high of $7.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.29 and a quick ratio of 3.29. The firm has a market capitalization of $415.65 million, a P/E ratio of 9.33 and a beta of 1.12.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Thursday, November 21st. The asset manager reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $27.93 million during the quarter, compared to analyst estimates of $28.50 million. PennantPark Investment had a net margin of 14.20% and a return on equity of 7.51%. On average, sell-side analysts anticipate that PennantPark Investment will post 0.71 EPS for the current year.

In other PennantPark Investment news, CEO Arthur H. Penn acquired 16,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $6.08 per share, for a total transaction of $97,280.00. Following the completion of the purchase, the chief executive officer now owns 193,410 shares in the company, valued at approximately $1,175,932.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. Confluence Investment Management LLC boosted its holdings in shares of PennantPark Investment by 0.3% in the third quarter. Confluence Investment Management LLC now owns 913,707 shares of the asset manager’s stock valued at $5,729,000 after acquiring an additional 2,538 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of PennantPark Investment by 3.5% in the second quarter. LPL Financial LLC now owns 102,299 shares of the asset manager’s stock valued at $647,000 after acquiring an additional 3,483 shares in the last quarter. Quantamental Technologies LLC boosted its holdings in shares of PennantPark Investment by 2,255.0% in the second quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 3,811 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of PennantPark Investment by 515.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,422 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 4,541 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of PennantPark Investment by 6.0% in the second quarter. Aperio Group LLC now owns 82,992 shares of the asset manager’s stock valued at $525,000 after acquiring an additional 4,665 shares in the last quarter. 39.08% of the stock is currently owned by institutional investors and hedge funds.

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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