PennantPark Investment (PNNT) PT Set at $8.00 by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods set a $8.00 target price on PennantPark Investment (NASDAQ:PNNT) in a research note published on Thursday morning. The firm currently has a hold rating on the asset manager’s stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of PennantPark Investment from a sell rating to a hold rating and set a $8.25 price objective on the stock in a research report on Thursday, July 26th. BidaskClub upgraded shares of PennantPark Investment from a sell rating to a hold rating in a research report on Thursday, May 24th. Finally, ValuEngine cut shares of PennantPark Investment from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.06.

PennantPark Investment opened at $7.68 on Thursday, Marketbeat Ratings reports. PennantPark Investment has a 12-month low of $6.29 and a 12-month high of $7.84. The stock has a market capitalization of $527.01 million, a price-to-earnings ratio of 9.72 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a quick ratio of 6.66 and a current ratio of 6.66.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). PennantPark Investment had a net margin of 39.31% and a return on equity of 8.09%. The firm had revenue of $24.76 million during the quarter, compared to analysts’ expectations of $26.13 million. equities analysts predict that PennantPark Investment will post 0.75 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC purchased a new position in shares of PennantPark Investment during the second quarter valued at about $2,026,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of PennantPark Investment during the first quarter valued at about $118,000. Cullen Frost Bankers Inc. purchased a new position in shares of PennantPark Investment during the first quarter valued at about $122,000. Great West Life Assurance Co. Can purchased a new position in shares of PennantPark Investment during the first quarter valued at about $126,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PennantPark Investment during the second quarter valued at about $158,000. Institutional investors own 44.84% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

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