PennantPark Investment Corp. (PNNT) Short Interest Update

PennantPark Investment Corp. (NASDAQ:PNNT) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 342,089 shares, a drop of 40.3% from the October 31st total of 573,304 shares. Based on an average daily volume of 315,830 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.5% of the shares of the company are short sold.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.36 on Tuesday. PennantPark Investment Corp. has a one year low of $4.65 and a one year high of $8.30. The firm has a 50-day moving average of $7.49 and a 200-day moving average of $7.28.

PennantPark Investment Corp. (NASDAQ:PNNT) last released its earnings results on Monday, November 21st. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a return on equity of 10.77% and a net margin of 4.38%. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities analysts predict that PennantPark Investment Corp. will post $1.03 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $6.00 target price on shares of PennantPark Investment Corp. in a research note on Saturday. Zacks Investment Research downgraded shares of PennantPark Investment Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 24th. Jefferies Group reiterated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 12th. FBR & Co downgraded shares of PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating and set a $8.00 price objective for the company. in a research report on Wednesday, November 23rd. Finally, Ladenburg Thalmann upgraded shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.17.

In other PennantPark Investment Corp. news, Chairman Arthur H. Penn bought 20,000 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was acquired at an average price of $7.16 per share, for a total transaction of $143,200.00. Following the completion of the purchase, the chairman now owns 183,400 shares of the company’s stock, valued at $1,313,144. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aviv Efrat bought 28,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were acquired at an average price of $7.08 per share, with a total value of $198,240.00. Following the purchase, the chief financial officer now directly owns 96,102 shares of the company’s stock, valued at approximately $680,402.16. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in shares of PennantPark Investment Corp. by 152.7% in the second quarter. Janney Montgomery Scott LLC now owns 322,286 shares of the company’s stock worth $2,077,000 after buying an additional 194,751 shares in the last quarter. Relative Value Partners Group LLC increased its stake in shares of PennantPark Investment Corp. by 19.7% in the second quarter. Relative Value Partners Group LLC now owns 189,532 shares of the company’s stock worth $1,295,000 after buying an additional 31,200 shares in the last quarter. Burgundy Asset Management Ltd. acquired a new stake in shares of PennantPark Investment Corp. during the second quarter worth $4,911,000. B. Riley Financial Inc. increased its stake in shares of PennantPark Investment Corp. by 4.6% in the second quarter. B. Riley Financial Inc. now owns 318,479 shares of the company’s stock worth $2,175,000 after buying an additional 14,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of PennantPark Investment Corp. by 14.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,818 shares of the company’s stock worth $436,000 after buying an additional 8,165 shares in the last quarter. 32.54% of the stock is owned by institutional investors.

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About PennantPark Investment Corp.

PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.

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