JPMorgan Chase & Co. increased its stake in shares of PennantPark Investment Corporation (NASDAQ:PNNT) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,900,325 shares of the asset manager’s stock after buying an additional 101,690 shares during the period. JPMorgan Chase & Co.’s holdings in PennantPark Investment Corporation were worth $15,469,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of PennantPark Investment Corporation by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 28,440 shares of the asset manager’s stock valued at $221,000 after buying an additional 764 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of PennantPark Investment Corporation by 6.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,388 shares of the asset manager’s stock valued at $585,000 after buying an additional 4,640 shares in the last quarter. Trexquant Investment LP boosted its stake in PennantPark Investment Corporation by 58.3% in the fourth quarter. Trexquant Investment LP now owns 43,651 shares of the asset manager’s stock valued at $334,000 after buying an additional 16,079 shares during the period. Eagle Global Advisors LLC boosted its stake in PennantPark Investment Corporation by 70.4% in the first quarter. Eagle Global Advisors LLC now owns 39,969 shares of the asset manager’s stock valued at $325,000 after buying an additional 16,510 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in PennantPark Investment Corporation by 164.3% in the first quarter. Ameriprise Financial Inc. now owns 29,816 shares of the asset manager’s stock valued at $243,000 after buying an additional 18,533 shares during the period. Institutional investors own 44.18% of the company’s stock.

Institutional Ownership by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

Shares of PennantPark Investment Corporation (NASDAQ:PNNT) opened at 7.35 on Tuesday. The firm has a 50-day moving average price of $7.68 and a 200 day moving average price of $7.90. PennantPark Investment Corporation has a 12-month low of $6.51 and a 12-month high of $8.68.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its quarterly earnings results on Monday, May 8th. The asset manager reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.29 million. PennantPark Investment Corporation had a return on equity of 9.98% and a net margin of 58.91%. The business’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. Equities analysts expect that PennantPark Investment Corporation will post $0.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Wednesday, June 21st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.80%. The ex-dividend date of this dividend is Monday, June 19th. PennantPark Investment Corporation’s payout ratio is presently 65.46%.

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PNNT has been the subject of several research analyst reports. Zacks Investment Research upgraded PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Wednesday, May 3rd. TheStreet cut PennantPark Investment Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, March 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $8.50 price objective on shares of PennantPark Investment Corporation in a report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $8.00 price objective on shares of PennantPark Investment Corporation in a report on Thursday, March 16th. Finally, JMP Securities cut PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $7.94.

In other PennantPark Investment Corporation news, CEO Arthur H. Penn purchased 17,000 shares of PennantPark Investment Corporation stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $7.77 per share, with a total value of $132,090.00. Following the completion of the transaction, the chief executive officer now owns 183,400 shares in the company, valued at approximately $1,425,018. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of PennantPark Investment Corporation stock in a transaction dated Monday, May 15th. The shares were acquired at an average cost of $7.78 per share, for a total transaction of $217,840.00. Following the completion of the transaction, the chairman now owns 183,400 shares of the company’s stock, valued at approximately $1,426,852. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 77,000 shares of company stock worth $596,970. Insiders own 1.90% of the company’s stock.

PennantPark Investment Corporation Company Profile

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

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