PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC reduced its stake in PennantPark Investment Co. (NASDAQ:PNNTFree Report) by 22.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 270,437 shares of the asset manager’s stock after selling 79,434 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in PennantPark Investment were worth $1,779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Northern Trust Corp increased its stake in PennantPark Investment by 13.9% during the second quarter. Northern Trust Corp now owns 15,607 shares of the asset manager’s stock worth $96,000 after purchasing an additional 1,900 shares during the period. Signaturefd LLC increased its stake in PennantPark Investment by 6.8% during the second quarter. Signaturefd LLC now owns 30,271 shares of the asset manager’s stock worth $178,000 after purchasing an additional 1,918 shares during the period. First Republic Investment Management Inc. increased its stake in PennantPark Investment by 0.4% during the second quarter. First Republic Investment Management Inc. now owns 488,976 shares of the asset manager’s stock worth $3,022,000 after purchasing an additional 2,000 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in PennantPark Investment by 5.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,655 shares of the asset manager’s stock worth $402,000 after purchasing an additional 2,548 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in PennantPark Investment by 9.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,042 shares of the asset manager’s stock worth $204,000 after purchasing an additional 2,640 shares during the period. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Investment Stock Performance

Shares of PennantPark Investment stock opened at $6.73 on Friday. PennantPark Investment Co. has a one year low of $4.70 and a one year high of $7.27. The company has a market cap of $438.93 million, a PE ratio of 6.17 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.41 and a current ratio of 0.81. The business has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $6.62.

PennantPark Investment (NASDAQ:PNNTGet Free Report) last announced its quarterly earnings data on Wednesday, November 15th. The asset manager reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. PennantPark Investment had a return on equity of 14.17% and a net margin of 32.55%. The business had revenue of $34.04 million during the quarter, compared to the consensus estimate of $33.45 million. On average, equities research analysts forecast that PennantPark Investment Co. will post 0.94 EPS for the current fiscal year.

PennantPark Investment Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, February 14th. PennantPark Investment’s dividend payout ratio (DPR) is 113.52%.

Wall Street Analysts Forecast Growth

Separately, Raymond James boosted their price target on shares of PennantPark Investment from $7.25 to $7.50 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.95.

Check Out Our Latest Report on PNNT

PennantPark Investment Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PNNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennantPark Investment Co. (NASDAQ:PNNTFree Report).

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

Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.