PennantPark Investment Corp. (NASDAQ:PNNT) Chairman Arthur H. Penn bought 15,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $6.58 per share, with a total value of $98,700.00. Following the completion of the acquisition, the chairman now owns 193,410 shares in the company, valued at $1,272,637.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ PNNT traded up $0.04 during mid-day trading on Thursday, reaching $6.59. 1,301 shares of the company’s stock were exchanged, compared to its average volume of 286,632. The stock has a market cap of $440.49 million, a PE ratio of 8.77 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.13. PennantPark Investment Corp. has a 52-week low of $6.21 and a 52-week high of $7.84.
PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Thursday, May 9th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). PennantPark Investment had a return on equity of 7.94% and a net margin of 28.97%. The firm had revenue of $28.69 million for the quarter, compared to analyst estimates of $28.89 million. Research analysts predict that PennantPark Investment Corp. will post 0.74 EPS for the current year.
Several analysts have issued reports on PNNT shares. BidaskClub cut PennantPark Investment from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. cut PennantPark Investment from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.50 to $7.00 in a report on Wednesday, January 16th. Zacks Investment Research cut PennantPark Investment from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Compass Point cut PennantPark Investment from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.50 to $7.00 in a report on Friday, May 3rd. Finally, LADENBURG THALM/SH SH cut PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.60.
WARNING: “Insider Buying: PennantPark Investment Corp. (PNNT) Chairman Acquires 15,000 Shares of Stock” was originally reported by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://dakotafinancialnews.com/2019/05/16/insider-buying-pennantpark-investment-corp-pnnt-chairman-acquires-15000-shares-of-stock.html.
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.
Featured Article: What does a bar chart display?
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.