Janney Montgomery Scott LLC grew its position in PennantPark Investment Co. (NASDAQ:PNNT – Get Rating) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 109,065 shares of the asset manager’s stock after purchasing an additional 7,100 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PennantPark Investment were worth $595,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of PennantPark Investment in the 1st quarter worth $77,000. Sabal Trust CO purchased a new stake in shares of PennantPark Investment in the 2nd quarter worth $62,000. PVG Asset Management Corp purchased a new stake in shares of PennantPark Investment in the 3rd quarter worth $64,000. Northern Trust Corp purchased a new stake in shares of PennantPark Investment during the 1st quarter worth $106,000. Finally, Jane Street Group LLC purchased a new stake in shares of PennantPark Investment during the 2nd quarter worth $88,000. 34.33% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on PennantPark Investment in a research note on Wednesday, October 12th. They set a “sell” rating for the company.
PennantPark Investment Trading Up 0.3 %
PennantPark Investment (NASDAQ:PNNT – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The asset manager reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The company had revenue of $28.93 million for the quarter, compared to analysts’ expectations of $27.66 million. PennantPark Investment had a positive return on equity of 6.87% and a negative net margin of 23.57%. Equities research analysts expect that PennantPark Investment Co. will post 0.78 EPS for the current fiscal year.
PennantPark Investment Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Monday, December 19th were given a dividend of $0.165 per share. This is a positive change from PennantPark Investment’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 10.93%. The ex-dividend date of this dividend was Friday, December 16th. PennantPark Investment’s dividend payout ratio is currently -178.38%.
PennantPark Investment Company Profile
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.
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