AlphaCentric Advisors LLC Invests $700,000 in PennantPark Investment Co. $PNNT

AlphaCentric Advisors LLC acquired a new stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 155,950 shares of the asset manager’s stock, valued at approximately $700,000. AlphaCentric Advisors LLC owned approximately 0.24% of PennantPark Investment as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of PNNT. EverSource Wealth Advisors LLC raised its position in PennantPark Investment by 100.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,695 shares of the asset manager’s stock worth $25,000 after buying an additional 1,853 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of PennantPark Investment by 6.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 67,685 shares of the asset manager’s stock valued at $463,000 after acquiring an additional 4,158 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of PennantPark Investment in the third quarter worth $32,000. Disciplined Investments LLC increased its stake in PennantPark Investment by 41.7% in the 4th quarter. Disciplined Investments LLC now owns 17,000 shares of the asset manager’s stock worth $101,000 after buying an additional 5,000 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in PennantPark Investment during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Stock Performance

PNNT stock opened at $3.35 on Monday. The firm has a market cap of $219.07 million, a price-to-earnings ratio of 12.90 and a beta of 0.58. PennantPark Investment Co. has a one year low of $3.30 and a one year high of $7.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $4.63.

PennantPark Investment Announces Dividend

The firm also recently declared a special dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.04 dividend. This represents a yield of 1,422.0%. The ex-dividend date of this dividend is Wednesday, July 15th. PennantPark Investment’s dividend payout ratio (DPR) is currently 228.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PNNT. Truist Financial reduced their price target on shares of PennantPark Investment from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Oppenheimer dropped their price objective on shares of PennantPark Investment from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods reduced their price target on PennantPark Investment from $5.00 to $4.50 and set an “underperform” rating on the stock in a report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.10.

PennantPark Investment Company Profile

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.