PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.00 and traded as high as $7.11. PennantPark Investment shares last traded at $7.08, with a volume of 353,550 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, LADENBURG THALM/SH SH cut PennantPark Investment from a "buy" rating to a "neutral" rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.00.
Check Out Our Latest Analysis on PennantPark Investment
PennantPark Investment Stock Up 0.2 %
The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The stock has a 50 day simple moving average of $7.09 and a 200 day simple moving average of $7.00. The firm has a market capitalization of $464.58 million, a PE ratio of 27.37 and a beta of 1.45.
PennantPark Investment Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 13.49%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Investment's dividend payout ratio (DPR) is 369.23%.
Institutional Investors Weigh In On PennantPark Investment
Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in PennantPark Investment in the fourth quarter worth $71,000. Grimes & Company Inc. bought a new stake in PennantPark Investment in the fourth quarter worth $443,000. Strategic Financial Concepts LLC bought a new stake in PennantPark Investment in the fourth quarter worth $115,000. Janney Montgomery Scott LLC boosted its holdings in PennantPark Investment by 12.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager's stock worth $927,000 after acquiring an additional 14,124 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in PennantPark Investment in the third quarter worth $74,000. 26.62% of the stock is owned by institutional investors.
PennantPark Investment Company Profile
(
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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.
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