West Family Investments Inc. boosted its stake in PennantPark Investment Corporation (NASDAQ:PNNT) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 810,056 shares of the asset manager’s stock after buying an additional 62,000 shares during the period. PennantPark Investment Corporation comprises 1.3% of West Family Investments Inc.’s portfolio, making the stock its 19th largest position. West Family Investments Inc.’s holdings in PennantPark Investment Corporation were worth $5,779,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PNNT. Van ECK Associates Corp increased its stake in shares of PennantPark Investment Corporation by 29.0% in the first quarter. Van ECK Associates Corp now owns 543,402 shares of the asset manager’s stock valued at $4,423,000 after buying an additional 122,222 shares during the last quarter. Muzinich & Co. Inc. increased its stake in shares of PennantPark Investment Corporation by 67.2% in the first quarter. Muzinich & Co. Inc. now owns 2,186,589 shares of the asset manager’s stock valued at $17,799,000 after buying an additional 878,491 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of PennantPark Investment Corporation during the first quarter valued at about $2,166,000. Stifel Financial Corp increased its stake in shares of PennantPark Investment Corporation by 43.8% in the first quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock valued at $147,000 after buying an additional 5,600 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of PennantPark Investment Corporation by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 1,900,325 shares of the asset manager’s stock valued at $15,469,000 after buying an additional 101,690 shares during the last quarter. 43.81% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Corporation (NASDAQ PNNT) opened at 7.61 on Wednesday. PennantPark Investment Corporation has a one year low of $6.86 and a one year high of $8.68. The company’s 50-day moving average is $7.48 and its 200 day moving average is $7.81.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its quarterly earnings data on Monday, August 7th. The asset manager reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by $0.02. The company had revenue of $31.10 million during the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, equities analysts anticipate that PennantPark Investment Corporation will post $0.83 EPS for the current fiscal year.

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A number of brokerages have recently commented on PNNT. Zacks Investment Research raised shares of PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Wednesday, May 3rd. JMP Securities lowered shares of PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.50 target price on shares of PennantPark Investment Corporation in a research report on Friday, April 21st. BidaskClub raised shares of PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co raised shares of PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $8.50 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. PennantPark Investment Corporation currently has an average rating of “Hold” and a consensus price target of $8.19.

In other PennantPark Investment Corporation news, Chairman Arthur H. Penn bought 32,000 shares of PennantPark Investment Corporation stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $7.72 per share, for a total transaction of $247,040.00. Following the acquisition, the chairman now directly owns 183,400 shares in the company, valued at $1,415,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Arthur H. Penn bought 28,000 shares of PennantPark Investment Corporation stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $7.62 per share, for a total transaction of $213,360.00. Following the completion of the acquisition, the chairman now owns 193,410 shares in the company, valued at $1,473,784.20. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

PennantPark Investment Corporation Company Profile

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

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Institutional Ownership by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

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