Raymond James Financial Inc. Makes New Investment in PennantPark Investment Co. (NASDAQ:PNNT)

Raymond James Financial Inc. acquired a new stake in shares of PennantPark Investment Co. (NASDAQ:PNNT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 89,230 shares of the asset manager's stock, valued at approximately $632,000. Raymond James Financial Inc. owned about 0.14% of PennantPark Investment as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNNT. Crew Capital Management Ltd. purchased a new stake in PennantPark Investment during the 4th quarter valued at $110,000. Sage Investment Counsel LLC purchased a new stake in PennantPark Investment during the fourth quarter valued at $127,000. Kovack Advisors Inc. increased its position in PennantPark Investment by 25.8% during the fourth quarter. Kovack Advisors Inc. now owns 57,050 shares of the asset manager's stock valued at $404,000 after acquiring an additional 11,700 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in PennantPark Investment by 1.2% in the fourth quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager's stock valued at $2,030,000 after acquiring an additional 3,470 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in PennantPark Investment in the fourth quarter worth about $71,000. Institutional investors own 26.62% of the company's stock.

PennantPark Investment Stock Performance

Shares of PennantPark Investment stock traded down $0.08 during trading hours on Friday, reaching $6.20. 592,876 shares of the stock traded hands, compared to its average volume of 483,379. The company has a 50 day moving average price of $6.97 and a 200 day moving average price of $6.97. PennantPark Investment Co. has a one year low of $5.72 and a one year high of $8.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $404.51 million, a price-to-earnings ratio of 23.83 and a beta of 1.09.

Remove Ads

PennantPark Investment Dividend Announcement

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

About PennantPark Investment

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.