Commonwealth Equity Services LLC Has $353,000 Position in PennantPark Investment Co. (NASDAQ:PNNT)

Commonwealth Equity Services LLC reduced its stake in PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 61.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,887 shares of the asset manager's stock after selling 79,859 shares during the period. Commonwealth Equity Services LLC owned approximately 0.08% of PennantPark Investment worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PNNT. Raymond James Financial Inc. acquired a new position in PennantPark Investment in the fourth quarter valued at about $632,000. Grimes & Company Inc. acquired a new position in shares of PennantPark Investment in the 4th quarter worth approximately $443,000. Truvestments Capital LLC grew its position in PennantPark Investment by 5.8% during the 4th quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager's stock worth $2,710,000 after acquiring an additional 20,907 shares during the last quarter. Sterneck Capital Management LLC increased 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 purchasing an additional 20,770 shares in the last quarter. Finally, Sage Investment Counsel LLC bought a new position in PennantPark Investment in the 4th quarter valued at $127,000. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Price Performance

Shares of PNNT stock traded down $0.08 during trading hours on Friday, hitting $6.20. 592,876 shares of the company's stock were exchanged, compared to its average volume of 483,379. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $8.04. The stock has a market cap of $404.51 million, a price-to-earnings ratio of 23.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The stock's 50-day moving average is $6.97 and its 200-day moving average is $6.97.

PennantPark Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 15.50%. The ex-dividend date is Tuesday, April 15th. PennantPark Investment's dividend payout ratio is presently 369.23%.

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.