PennantPark Investment Corp. (NASDAQ:PNNT) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 530,712 shares, a decrease of 28.3% from the September 15th total of 740,385 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 386,373 shares, the short-interest ratio is presently 1.4 days.
Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.57 on Friday. The stock has a 50 day moving average of $7.73 and a 200-day moving average of $7.02. PennantPark Investment Corp. has a 1-year low of $4.65 and a 1-year high of $8.30.
PennantPark Investment Corp. (NASDAQ:PNNT) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The business earned $35.54 million during the quarter, compared to the consensus estimate of $35.47 million. PennantPark Investment Corp. had a positive return on equity of 11.20% and a negative net margin of 5.09%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities research analysts forecast that PennantPark Investment Corp. will post $1.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Wednesday, September 21st were issued a $0.28 dividend. The ex-dividend date was Monday, September 19th. This represents a $1.12 dividend on an annualized basis and a yield of 14.80%. PennantPark Investment Corp.’s dividend payout ratio (DPR) is -1,244.31%.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in PennantPark Investment Corp. by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 2,116,857 shares of the company’s stock worth $12,829,000 after buying an additional 42,711 shares during the period. Delphi Financial Group Inc. increased its position in PennantPark Investment Corp. by 0.9% in the second quarter. Delphi Financial Group Inc. now owns 1,837,526 shares of the company’s stock worth $12,532,000 after buying an additional 15,817 shares during the period. Bank of Montreal Can purchased a new position in PennantPark Investment Corp. during the second quarter worth about $5,420,000. Burgundy Asset Management Ltd. purchased a new position in PennantPark Investment Corp. during the second quarter worth about $4,911,000. Finally, BlackRock Group LTD increased its position in PennantPark Investment Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 384,853 shares of the company’s stock worth $2,629,000 after buying an additional 48,943 shares during the period. Institutional investors and hedge funds own 33.42% of the company’s stock.
PNNT has been the topic of several research reports. Zacks Investment Research upgraded shares of PennantPark Investment Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, August 11th. Jefferies Group restated a “hold” rating on shares of PennantPark Investment Corp. in a research note on Friday, August 5th. JMP Securities upped their price target on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. DA Davidson downgraded shares of PennantPark Investment Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $7.00 in a research note on Wednesday, July 27th. Finally, JPMorgan Chase & Co. downgraded shares of PennantPark Investment Corp. from an “overweight” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research note on Monday, July 18th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.36.
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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