PennantPark Investment (NASDAQ:PNNT) Earns Sell Rating from Compass Point

PennantPark Investment (NASDAQ:PNNT)‘s stock had its “sell” rating reissued by research analysts at Compass Point in a research report issued on Wednesday, MarketBeat reports. They presently have a $5.75 price target on the asset manager’s stock, down from their prior price target of $6.00. Compass Point’s price target would suggest a potential downside of 12.41% from the company’s current price.

A number of other research analysts also recently commented on PNNT. LADENBURG THALM/SH SH raised shares of PennantPark Investment to a “hold” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price objective on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th.

PennantPark Investment Stock Down 0.1%

PNNT opened at $6.57 on Wednesday. The firm has a 50-day simple moving average of $6.61 and a two-hundred day simple moving average of $6.88. PennantPark Investment has a 52 week low of $5.72 and a 52 week high of $8.04. The company has a market capitalization of $428.67 million, a PE ratio of 25.25 and a beta of 1.02. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

Insider Activity at PennantPark Investment

In other PennantPark Investment news, Director Jose A. Briones acquired 3,640 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average cost of $6.88 per share, with a total value of $25,043.20. Following the completion of the acquisition, the director now directly owns 268,972 shares in the company, valued at $1,850,527.36. This represents a 1.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennantPark Investment

Several institutional investors and hedge funds have recently bought and sold shares of PNNT. Quarry LP purchased a new position in PennantPark Investment in the first quarter worth $34,000. Ameriflex Group Inc. acquired a new stake in shares of PennantPark Investment during the fourth quarter worth $39,000. Sanctuary Advisors LLC acquired a new stake in shares of PennantPark Investment during the fourth quarter worth $71,000. BNP Paribas Financial Markets acquired a new stake in shares of PennantPark Investment during the fourth quarter worth $80,000. Finally, Integrity Alliance LLC. acquired a new stake in shares of PennantPark Investment during the first quarter worth $83,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Company Profile

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.