International Assets Investment Management LLC Trims Stake in PennantPark Investment Co. (NASDAQ:PNNT)

International Assets Investment Management LLC lessened its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,350 shares of the asset manager's stock after selling 187,787 shares during the period. International Assets Investment Management LLC's holdings in PennantPark Investment were worth $222,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PNNT. Advisors Asset Management Inc. increased its stake 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 purchasing an additional 40,487 shares in the last quarter. Truvestments Capital LLC boosted its position in PennantPark Investment by 16.4% in the third 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 during the last quarter. Confluence Investment Management LLC boosted its holdings in shares of PennantPark Investment by 0.9% in the 3rd quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager's stock valued at $2,115,000 after acquiring an additional 2,563 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its position in PennantPark Investment by 1.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 240,200 shares of the asset manager's stock valued at $1,679,000 after purchasing an additional 3,744 shares during the period. Finally, Garner Asset Management Corp raised its stake in shares of PennantPark Investment by 9.9% during the 2nd quarter. Garner Asset Management Corp now owns 106,614 shares of the asset manager's stock valued at $805,000 after buying an additional 9,610 shares during the last quarter. Hedge funds and other institutional investors own 26.62% of the company's stock.

PennantPark Investment Price Performance

Shares of NASDAQ PNNT traded up $0.07 during midday trading on Tuesday, hitting $7.17. The stock had a trading volume of 268,464 shares, compared to its average volume of 386,067. The stock has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $7.05. PennantPark Investment Co. has a 1 year low of $6.43 and a 1 year high of $8.04. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $468.17 million, a PE ratio of 42.18 and a beta of 1.47.

PennantPark Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 13.39%. The ex-dividend date is Wednesday, January 15th. PennantPark Investment's dividend payout ratio is currently 564.71%.

Analyst Ratings Changes

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

PennantPark Investment 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.