PennantPark Investment Co. (NASDAQ:PNNT) Receives $5.75 Consensus Target Price from Analysts

Shares of PennantPark Investment Co. (NASDAQ:PNNT) have been given a consensus recommendation of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $5.75.

A number of brokerages have weighed in on PNNT. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $5.75 to $5.50 in a research report on Wednesday, December 3rd. Truist Financial cut their price objective on PennantPark Investment from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods decreased their target price on PennantPark Investment from $5.50 to $5.00 and set an “underperform” rating on the stock in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on PennantPark Investment from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th.

Institutional Trading of PennantPark Investment

Several hedge funds and other institutional investors have recently modified their holdings of PNNT. Closed End Fund Advisors Inc. bought a new position in PennantPark Investment in the 4th quarter valued at about $895,000. Jane Street Group LLC bought a new stake in shares of PennantPark Investment during the fourth quarter worth approximately $820,000. XTX Topco Ltd acquired a new position in shares of PennantPark Investment in the fourth quarter valued at approximately $682,000. Sunbelt Securities Inc. grew its position in shares of PennantPark Investment by 493.1% in the third quarter. Sunbelt Securities Inc. now owns 104,245 shares of the asset manager’s stock valued at $699,000 after purchasing an additional 86,668 shares during the last quarter. Finally, Gallagher Capital Advisors LLC acquired a new stake in PennantPark Investment during the 4th quarter worth approximately $422,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Stock Performance

Shares of PNNT opened at $4.88 on Friday. The company has a market cap of $318.64 million, a PE ratio of 18.77 and a beta of 0.65. The firm has a 50-day moving average of $5.61 and a 200-day moving average of $6.19. PennantPark Investment has a one year low of $4.84 and a one year high of $7.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47.

PennantPark Investment Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 16th. PennantPark Investment’s dividend payout ratio is presently 123.08%.

About PennantPark Investment

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.