PennantPark Investment (NASDAQ:PNNT) PT Raised to $7.50 at Raymond James

PennantPark Investment (NASDAQ:PNNT) had its price target raised by Raymond James from $7.25 to $7.50 in a report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com assumed coverage on PennantPark Investment in a report on Thursday, October 5th. They issued a hold rating on the stock. Compass Point cut shares of PennantPark Investment from a buy rating to a neutral rating and set a $6.75 target price for the company. in a report on Monday, August 14th. They noted that the move was a valuation call. LADENBURG THALM/SH SH boosted their price target on shares of PennantPark Investment from $6.50 to $7.00 in a report on Monday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PennantPark Investment from $6.00 to $6.50 and gave the stock a neutral rating in a research note on Friday, August 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $6.71.

PennantPark Investment Stock Down 0.6 %

NASDAQ PNNT opened at $6.55 on Friday. PennantPark Investment has a 12 month low of $4.70 and a 12 month high of $7.07. The company has a market capitalization of $427.22 million, a P/E ratio of -12.63 and a beta of 1.56. The company’s 50 day simple moving average is $6.41 and its 200 day simple moving average is $6.18. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.11 and a quick ratio of 2.11.

PennantPark Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 12.82%. The ex-dividend date is Wednesday, November 15th. PennantPark Investment’s dividend payout ratio is currently -161.54%.

Institutional Trading of PennantPark Investment

Several hedge funds and other institutional investors have recently modified their holdings of PNNT. Millennium Management LLC lifted its holdings in shares of PennantPark Investment by 5,609.7% during the 4th quarter. Millennium Management LLC now owns 812,257 shares of the asset manager’s stock valued at $4,670,000 after buying an additional 798,031 shares during the last quarter. LSV Asset Management increased its stake in shares of PennantPark Investment by 16.3% during the 3rd quarter. LSV Asset Management now owns 2,101,737 shares of the asset manager’s stock worth $13,829,000 after purchasing an additional 295,060 shares during the last quarter. Ares Management LLC increased its stake in shares of PennantPark Investment by 5.9% during the 1st quarter. Ares Management LLC now owns 5,242,500 shares of the asset manager’s stock worth $40,787,000 after purchasing an additional 290,107 shares during the last quarter. Golden Green Inc. raised its holdings in shares of PennantPark Investment by 1,928.3% during the 1st quarter. Golden Green Inc. now owns 249,686 shares of the asset manager’s stock valued at $1,318,000 after purchasing an additional 237,376 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its stake in shares of PennantPark Investment by 1,788.9% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 207,519 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 196,533 shares during the last quarter. 32.00% of the stock is currently owned by hedge funds and other institutional investors.

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.