The PennantPark Investment Corp. (PNNT) Given a $9.00 Price Target at Keefe, Bruyette & Woods

The PennantPark Investment Corp. (PNNT) Given a $9.00 Price Target at Keefe, Bruyette & Woods

Several other research firms have also commented on PNNT. Zacks Investment Research lowered PennantPark Investment Corp. from a buy rating to a hold rating in a research note on Thursday, May 11th. TheStreet lowered PennantPark Investment Corp. from a b- rating to a c+ rating in a research note on Tuesday, March 21st. Jefferies Group LLC reiterated a hold rating and set a $8.00 price objective on shares of PennantPark Investment Corp. in a research note on Thursday, March 16th. JMP Securities cut PennantPark Investment Corp. from an outperform rating to a market perform rating in a report on Thursday, May 11th. They noted that the move was a valuation call. Finally, Ladenburg Thalmann Financial Services cut PennantPark Investment Corp. from a buy rating to a neutral rating in a report on Thursday, February 9th. Ten investment analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus price target of $7.94.

Keefe, Bruyette & Woods set a $9.00 price target on PennantPark Investment Corp. (NASDAQ:PNNT) in a report published on Monday, May 22nd. The firm currently has a hold rating on the asset manager’s stock.

Shares of PennantPark Investment Corp. (NASDAQ PNNT) opened at 7.67 on Monday. PennantPark Investment Corp. has a 12-month low of $6.26 and a 12-month high of $8.68. The firm has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.89. PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings results on Monday, May 8th. The asset manager reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. PennantPark Investment Corp. had a return on equity of 10.79% and a net margin of 51.21%. The firm had revenue of $33.70 million during the quarter, compared to analyst estimates of $33.29 million. During the same quarter in the previous year, the business earned $0.29 EPS. PennantPark Investment Corp.’s revenue for the quarter was down 13.8% compared to the same quarter last year. Analysts anticipate that PennantPark Investment Corp. will post $0.85 EPS for the current fiscal year.

Shares of PennantPark Investment Corp. (NASDAQ PNNT) opened at 7.67 on Monday. PennantPark Investment Corp. has a 12-month low of $6.26 and a 12-month high of $8.68. The firm has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.89. In other PennantPark Investment Corp. news, Chairman Arthur H. Penn acquired 32,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $7.72 per share, with a total value of $247,040.00. Following the purchase, the chairman now directly owns 183,400 shares in the company, valued at approximately $1,415,848. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Arthur H. Penn acquired 17,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $7.77 per share, with a total value of $132,090.00. Following the completion of the purchase, the chief executive officer now owns 183,400 shares in the company, valued at $1,425,018. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 77,000 shares of company stock valued at $596,970. 1.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PNNT. Relative Value Partners Group LLC raised its position in shares of PennantPark Investment Corp. by 7.0% in the third quarter. Relative Value Partners Group LLC now owns 202,797 shares of the asset manager’s stock worth $1,525,000 after buying an additional 13,265 shares during the period. Stephens Inc. AR raised its position in shares of PennantPark Investment Corp. by 4.6% in the third quarter. Stephens Inc. AR now owns 17,448 shares of the asset manager’s stock worth $131,000 after buying an additional 773 shares during the period. Nuveen Fund Advisors LLC raised its position in shares of PennantPark Investment Corp. by 3.8% in the third quarter. Nuveen Fund Advisors LLC now owns 357,998 shares of the asset manager’s stock worth $2,692,000 after buying an additional 13,147 shares during the period. Delphi Financial Group Inc. raised its position in shares of PennantPark Investment Corp. by 3.6% in the fourth quarter. Delphi Financial Group Inc. now owns 1,385,037 shares of the asset manager’s stock worth $10,609,000 after buying an additional 48,365 shares during the period. Finally, Signia Capital Management LLC raised its position in shares of PennantPark Investment Corp. by 58.3% in the fourth quarter. Signia Capital Management LLC now owns 373,301 shares of the asset manager’s stock worth $2,859,000 after buying an additional 137,554 shares during the period. Hedge funds and other institutional investors own 35.40% of the company’s stock. About PennantPark Investment Corp.

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PNNT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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