Jane Street Group LLC Raises Stock Position in PennantPark Investment Co. (NASDAQ:PNNT)

Jane Street Group LLC raised its position in PennantPark Investment Co. (NASDAQ:PNNT) by 93.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,598 shares of the asset manager’s stock after buying an additional 13,307 shares during the period. Jane Street Group LLC’s holdings in PennantPark Investment were worth $195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNNT. Strategic Financial Concepts LLC purchased a new position in PennantPark Investment in the fourth quarter valued at $115,000. Sanctuary Advisors LLC purchased a new position in PennantPark Investment in the fourth quarter valued at $71,000. NewEdge Wealth LLC increased its holdings in PennantPark Investment by 1.2% in the fourth quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager’s stock valued at $2,030,000 after buying an additional 3,470 shares in the last quarter. Kovack Advisors Inc. increased its holdings in PennantPark Investment by 25.8% in the fourth quarter. Kovack Advisors Inc. now owns 57,050 shares of the asset manager’s stock valued at $404,000 after buying an additional 11,700 shares in the last quarter. Finally, Sage Investment Counsel LLC purchased a new position in PennantPark Investment in the fourth quarter valued at $127,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNNT. LADENBURG THALM/SH SH raised shares of PennantPark Investment to a “hold” rating in a report on Wednesday, May 14th. Wall Street Zen raised shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Compass Point reissued a “sell” rating and set a $5.75 target price (down previously from $6.00) on shares of PennantPark Investment in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th.

Insider Buying and Selling

In other PennantPark Investment news, Director Jose A. Briones purchased 3,640 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $6.88 per share, for a total transaction of $25,043.20. Following the completion of the transaction, the director now owns 268,972 shares of the company’s stock, valued at $1,850,527.36. The trade was a 1.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

PennantPark Investment Stock Up 1.0%

PNNT stock opened at $6.78 on Friday. The stock has a market capitalization of $442.38 million, a P/E ratio of 26.06 and a beta of 1.01. The firm has a 50-day simple moving average of $6.52 and a 200-day simple moving average of $6.85. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $8.04.

PennantPark Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 14.17%. PennantPark Investment’s payout ratio is presently 640.00%.

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.