Stifel Financial Corp Raises Position in PennantPark Investment Corporation (PNNT)

Stifel Financial Corp raised its position in PennantPark Investment Corporation (NASDAQ:PNNT) by 43.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,400 shares of the asset manager’s stock after buying an additional 5,600 shares during the period. Stifel Financial Corp’s holdings in PennantPark Investment Corporation were worth $147,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in PennantPark Investment Corporation by 164.3% in the first quarter. Ameriprise Financial Inc. now owns 29,816 shares of the asset manager’s stock worth $243,000 after buying an additional 18,533 shares during the period. Nine Chapters Capital Management LLC acquired a new position in PennantPark Investment Corporation during the first quarter worth approximately $308,000. Eagle Global Advisors LLC boosted its position in PennantPark Investment Corporation by 70.4% in the first quarter. Eagle Global Advisors LLC now owns 39,969 shares of the asset manager’s stock worth $325,000 after buying an additional 16,510 shares during the period. Karp Capital Management Corp acquired a new position in PennantPark Investment Corporation during the first quarter worth approximately $419,000. Finally, A.R.T. Advisors LLC acquired a new position in PennantPark Investment Corporation during the fourth quarter worth approximately $441,000. 44.18% of the stock is owned by institutional investors.

PennantPark Investment Corporation (PNNT) opened at 7.41 on Monday. PennantPark Investment Corporation has a one year low of $6.86 and a one year high of $8.68. The firm has a 50-day moving average price of $7.54 and a 200-day moving average price of $7.88.

PennantPark Investment Corporation (NASDAQ:PNNT) last released its quarterly earnings data on Monday, May 8th. The asset manager reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.29 million. PennantPark Investment Corporation had a return on equity of 9.98% and a net margin of 58.91%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, equities research analysts predict that PennantPark Investment Corporation will post $0.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 21st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 19th. This represents a $0.72 annualized dividend and a dividend yield of 9.72%. PennantPark Investment Corporation’s dividend payout ratio is currently 65.46%.

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A number of research firms have recently commented on PNNT. Keefe, Bruyette & Woods set a $9.00 price target on PennantPark Investment Corporation and gave the stock a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research cut PennantPark Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Jefferies Group LLC reissued a “hold” rating and set a $8.00 price target on shares of PennantPark Investment Corporation in a report on Thursday, March 16th. JMP Securities cut PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. Finally, TheStreet cut PennantPark Investment Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, March 21st. Ten equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $7.94.

In related news, Chairman Arthur H. Penn acquired 28,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $7.78 per share, for a total transaction of $217,840.00. Following the completion of the acquisition, the chairman now owns 183,400 shares in the company, valued at $1,426,852. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn acquired 32,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $7.72 per share, for a total transaction of $247,040.00. Following the acquisition, the chairman now owns 183,400 shares of the company’s stock, valued at approximately $1,415,848. The disclosure for this purchase can be found here. In the last quarter, insiders bought 77,000 shares of company stock worth $596,970. Company insiders own 1.90% of the company’s stock.

PennantPark Investment Corporation 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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Institutional Ownership by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

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