Mackenzie Financial Corp Has $655,000 Position in PennantPark Investment Co. (NASDAQ:PNNT)

Mackenzie Financial Corp reduced its stake in shares of PennantPark Investment Co. (NASDAQ:PNNTGet Rating) by 37.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,015 shares of the asset manager’s stock after selling 63,897 shares during the quarter. Mackenzie Financial Corp’s holdings in PennantPark Investment were worth $655,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sabal Trust CO acquired a new stake in shares of PennantPark Investment during the second quarter worth approximately $62,000. BNP Paribas Arbitrage SA acquired a new stake in shares of PennantPark Investment during the first quarter worth approximately $77,000. Tompkins Financial Corp bought a new position in PennantPark Investment during the first quarter valued at approximately $78,000. Northern Trust Corp bought a new position in PennantPark Investment during the first quarter valued at approximately $106,000. Finally, Quantbot Technologies LP bought a new position in PennantPark Investment during the first quarter valued at approximately $122,000. 37.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of PennantPark Investment in a research report on Wednesday, October 12th. They set a “sell” rating on the stock.

PennantPark Investment Price Performance

Shares of PNNT opened at $6.25 on Friday. The firm has a market cap of $407.63 million, a PE ratio of -16.89 and a beta of 1.56. The firm’s 50 day moving average price is $5.85 and its 200 day moving average price is $6.31. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.28 and a current ratio of 2.28. PennantPark Investment Co. has a twelve month low of $5.33 and a twelve month high of $8.02.

PennantPark Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 19th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 10.56%. The ex-dividend date of this dividend is Friday, December 16th. This is a positive change from PennantPark Investment’s previous quarterly dividend of $0.15. PennantPark Investment’s dividend payout ratio (DPR) is presently -162.16%.

About PennantPark Investment

(Get Rating)

PennantPark Investment Corporation is a publicly listed business development firm specializing in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The firm invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans, and senior secured loans.

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

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