Stifel Financial Corp Sells 21,117 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Stifel Financial Corp decreased its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 46.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,982 shares of the asset manager’s stock after selling 21,117 shares during the quarter. Stifel Financial Corp’s holdings in PennantPark Investment were worth $170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PNNT. Sanctuary Advisors LLC bought a new position in PennantPark Investment in the fourth quarter valued at approximately $71,000. Virtu Financial LLC bought a new position in PennantPark Investment in the fourth quarter valued at approximately $95,000. Crew Capital Management Ltd. bought a new position in PennantPark Investment in the fourth quarter valued at approximately $110,000. Strategic Financial Concepts LLC bought a new position in PennantPark Investment in the fourth quarter valued at approximately $115,000. Finally, Sage Investment Counsel LLC bought a new position in PennantPark Investment in the fourth quarter valued at approximately $127,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Trading Down 3.3%

PNNT opened at $6.72 on Friday. PennantPark Investment Co. has a twelve month low of $5.72 and a twelve month high of $8.04. The company has a 50-day simple moving average of $6.64 and a 200 day simple moving average of $6.88. 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 stock has a market capitalization of $438.79 million, a price-to-earnings ratio of 25.85 and a beta of 1.02.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 14.29%. The ex-dividend date is Thursday, May 15th. PennantPark Investment’s payout ratio is 640.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. StockNews.com raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.