Atria Wealth Solutions Inc. Buys 6,206 Shares of PennantPark Investment Co. $PNNT

Atria Wealth Solutions Inc. grew its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,541 shares of the asset manager’s stock after purchasing an additional 6,206 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in PennantPark Investment were worth $182,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kovack Advisors Inc. grew its position in PennantPark Investment by 15.8% during the first quarter. Kovack Advisors Inc. now owns 66,050 shares of the asset manager’s stock worth $464,000 after buying an additional 9,000 shares in the last quarter. Denali Advisors LLC raised its stake in shares of PennantPark Investment by 5.4% in the first quarter. Denali Advisors LLC now owns 108,758 shares of the asset manager’s stock valued at $765,000 after acquiring an additional 5,538 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of PennantPark Investment by 309.8% in the first quarter. Sunbelt Securities Inc. now owns 72,025 shares of the asset manager’s stock valued at $506,000 after acquiring an additional 54,448 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of PennantPark Investment by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,882 shares of the asset manager’s stock valued at $252,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PennantPark Investment in the fourth quarter valued at approximately $2,470,000. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Trading Down 3.3%

Shares of PNNT stock opened at $7.12 on Monday. The firm has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $6.89. 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 company has a market capitalization of $464.91 million, a PE ratio of 27.39 and a beta of 1.07. PennantPark Investment Co. has a 12-month low of $5.72 and a 12-month high of $7.53.

PennantPark Investment Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.08 dividend. This represents a dividend yield of 1,319.0%. The ex-dividend date is Friday, August 15th. PennantPark Investment’s payout ratio is presently 457.14%.

Wall Street Analysts Forecast Growth

PNNT has been the topic of a number of recent research reports. Compass Point reiterated a “sell” rating and issued a $5.75 price objective (down from $6.00) on shares of PennantPark Investment in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $6.25 target price (down previously from $6.50) on shares of PennantPark Investment in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their target price on shares of PennantPark Investment from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, LADENBURG THALM/SH SH upgraded PennantPark Investment to a “hold” rating in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.33.

PennantPark Investment 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.