62,577 Shares in PennantPark Investment Co. (NASDAQ:PNNT) Acquired by Grimes & Company Inc.

Grimes & Company Inc. bought a new position in PennantPark Investment Co. (NASDAQ:PNNT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 62,577 shares of the asset manager’s stock, valued at approximately $443,000. Grimes & Company Inc. owned approximately 0.10% of PennantPark Investment at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNNT. International Assets Investment Management LLC increased its holdings in PennantPark Investment by 599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock worth $1,532,000 after acquiring an additional 187,787 shares in the last quarter. Truvestments Capital LLC grew its holdings in PennantPark Investment by 16.4% during the 3rd quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock valued at $2,530,000 after buying an additional 50,907 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in PennantPark Investment by 6.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after buying an additional 40,487 shares in the last quarter. Paloma Partners Management Co purchased a new stake in PennantPark Investment during the 3rd quarter valued at approximately $173,000. Finally, Sterneck Capital Management LLC grew its holdings in PennantPark Investment by 44.0% during the 4th quarter. Sterneck Capital Management LLC now owns 67,932 shares of the asset manager’s stock valued at $481,000 after buying an additional 20,770 shares in the last quarter. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Trading Down 0.1 %

PNNT stock opened at $6.99 on Friday. The firm has a fifty day moving average price of $6.96 and a 200 day moving average price of $7.01. PennantPark Investment Co. has a fifty-two week low of $6.43 and a fifty-two week high of $8.04. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $456.12 million, a PE ratio of 41.09 and a beta of 1.47.

PennantPark Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.74%. The ex-dividend date of this dividend is Wednesday, January 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 564.74%.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH lowered shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, PennantPark Investment presently has a consensus rating of “Hold” and an average target price of $6.00.

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.