Analysts Expect PennantPark Investment Corp. (NASDAQ:PNNT) Will Announce Quarterly Sales of $29.46 Million

Wall Street brokerages forecast that PennantPark Investment Corp. (NASDAQ:PNNT) will post $29.46 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for PennantPark Investment’s earnings, with estimates ranging from $28.77 million to $30.07 million. PennantPark Investment posted sales of $28.69 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The company is scheduled to announce its next earnings report on Thursday, May 14th.

On average, analysts expect that PennantPark Investment will report full-year sales of $117.19 million for the current financial year, with estimates ranging from $115.97 million to $119.98 million. For the next fiscal year, analysts anticipate that the firm will post sales of $129.85 million, with estimates ranging from $126.66 million to $134.44 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for PennantPark Investment.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.02). PennantPark Investment had a net margin of 25.60% and a return on equity of 7.19%. The business had revenue of $26.00 million during the quarter, compared to analyst estimates of $27.53 million.

A number of analysts have weighed in on PNNT shares. BidaskClub cut PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. lowered PennantPark Investment from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $6.50 to $6.00 in a report on Tuesday, October 29th. ValuEngine raised PennantPark Investment from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Zacks Investment Research lowered PennantPark Investment from a “hold” rating to a “sell” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. PennantPark Investment presently has a consensus rating of “Hold” and an average price target of $7.13.

In other news, CEO Arthur H. Penn acquired 10,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average price of $6.56 per share, with a total value of $65,600.00. Following the completion of the acquisition, the chief executive officer now owns 193,410 shares in the company, valued at approximately $1,268,769.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Arthur H. Penn acquired 16,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $6.17 per share, for a total transaction of $98,720.00. Following the acquisition, the chief executive officer now owns 193,410 shares of the company’s stock, valued at approximately $1,193,339.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 42,000 shares of company stock worth $261,600. Corporate insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in shares of PennantPark Investment by 515.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,422 shares of the asset manager’s stock worth $34,000 after buying an additional 4,541 shares during the last quarter. PVG Asset Management Corp purchased a new position in shares of PennantPark Investment during the third quarter worth about $67,000. Koshinski Asset Management Inc. purchased a new position in shares of PennantPark Investment during the fourth quarter worth about $80,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of PennantPark Investment during the second quarter worth about $77,000. Finally, Wealthspire Advisors L.P. purchased a new position in shares of PennantPark Investment during the fourth quarter worth about $85,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Investment stock traded up $0.03 during midday trading on Friday, reaching $6.59. The company’s stock had a trading volume of 296,642 shares, compared to its average volume of 304,084. PennantPark Investment has a fifty-two week low of $5.84 and a fifty-two week high of $7.34. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market cap of $441.83 million, a P/E ratio of 15.33 and a beta of 1.07. The business has a 50-day simple moving average of $6.59 and a 200-day simple moving average of $6.35.

PennantPark Investment Company Profile

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.

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