PennantPark Investment (NASDAQ:PNNT) Issues Earnings Results, Beats Estimates By $0.01 EPS

PennantPark Investment (NASDAQ:PNNTGet Rating) posted its quarterly earnings results on Wednesday. The asset manager reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01, MarketWatch Earnings reports. PennantPark Investment had a net margin of 88.94% and a return on equity of 6.60%. During the same period last year, the business earned $0.13 earnings per share.

PNNT opened at $7.36 on Friday. The business’s fifty day moving average is $7.70 and its 200-day moving average is $7.27. The firm has a market cap of $486.72 million, a P/E ratio of 11.53 and a beta of 1.67. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.16 and a current ratio of 2.16. PennantPark Investment has a 52-week low of $6.17 and a 52-week high of $8.02.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date of this dividend is Thursday, June 16th. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.14. PennantPark Investment’s payout ratio is presently 43.41%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in PennantPark Investment by 5.0% in the third quarter. Morgan Stanley now owns 763,982 shares of the asset manager’s stock valued at $4,958,000 after buying an additional 36,655 shares during the period. BlackRock Inc. boosted its stake in shares of PennantPark Investment by 9.3% in the 4th quarter. BlackRock Inc. now owns 557,545 shares of the asset manager’s stock worth $3,863,000 after buying an additional 47,235 shares during the last quarter. Marshall Wace LLP raised its position in PennantPark Investment by 13.3% in the fourth quarter. Marshall Wace LLP now owns 520,879 shares of the asset manager’s stock worth $3,611,000 after acquiring an additional 61,293 shares during the period. Stifel Financial Corp grew its holdings in PennantPark Investment by 3.7% during the fourth quarter. Stifel Financial Corp now owns 330,933 shares of the asset manager’s stock valued at $2,294,000 after purchasing an additional 11,734 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of PennantPark Investment by 51.3% during the 4th quarter. Advisors Asset Management Inc. now owns 230,012 shares of the asset manager’s stock valued at $1,594,000 after buying an additional 78,014 shares in the last quarter. Institutional investors and hedge funds own 32.03% of the company’s stock.

A number of equities research analysts have issued reports on PNNT shares. Raymond James upped their target price on PennantPark Investment from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. Zacks Investment Research lowered PennantPark Investment from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Finally, StockNews.com started coverage on PennantPark Investment in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.13.

PennantPark Investment Company Profile (Get Rating)

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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Earnings History for PennantPark Investment (NASDAQ:PNNT)

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