PennantPark Investment Corp. (NASDAQ:PNNT) CFO Aviv Efrat purchased 27,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $2.22 per share, for a total transaction of $59,940.00. Following the purchase, the chief financial officer now directly owns 133,102 shares of the company’s stock, valued at $295,486.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Aviv Efrat also recently made the following trade(s):
- On Monday, March 23rd, Aviv Efrat purchased 29,100 shares of PennantPark Investment stock. The shares were purchased at an average cost of $2.58 per share, for a total transaction of $75,078.00.
NASDAQ:PNNT opened at $2.52 on Thursday. PennantPark Investment Corp. has a 1-year low of $1.76 and a 1-year high of $7.19. The business’s 50-day moving average price is $5.25 and its two-hundred day moving average price is $6.05. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $147.50 million, a price-to-earnings ratio of 3.49 and a beta of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 28.57%. The ex-dividend date is Tuesday, March 17th. PennantPark Investment’s payout ratio is 109.09%.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in PennantPark Investment by 515.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,422 shares of the asset manager’s stock valued at $34,000 after buying an additional 4,541 shares during the period. PVG Asset Management Corp acquired a new position in PennantPark Investment in the third quarter valued at about $67,000. Koshinski Asset Management Inc. acquired a new position in PennantPark Investment in the fourth quarter valued at about $80,000. Wealthspire Advisors L.P. acquired a new position in PennantPark Investment in the fourth quarter valued at about $85,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in PennantPark Investment in the fourth quarter valued at about $92,000. 40.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on PNNT shares. ValuEngine lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Zacks Investment Research raised PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, BidaskClub lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. PennantPark Investment presently has an average rating of “Hold” and an average price target of $7.13.
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.
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