Janney Montgomery Scott LLC raised its position in shares of PennantPark Investment Corporation (NASDAQ:PNNT) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 147,464 shares of the asset manager’s stock after buying an additional 14,215 shares during the period. Janney Montgomery Scott LLC’s holdings in PennantPark Investment Corporation were worth $1,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. LSV Asset Management boosted its position in PennantPark Investment Corporation by 262.0% in the first quarter. LSV Asset Management now owns 2,002,986 shares of the asset manager’s stock worth $16,304,000 after buying an additional 1,449,656 shares in the last quarter. Muzinich & Co. Inc. boosted its position in PennantPark Investment Corporation by 67.2% in the first quarter. Muzinich & Co. Inc. now owns 2,186,589 shares of the asset manager’s stock worth $17,799,000 after buying an additional 878,491 shares during the period. UBS Group AG boosted its position in PennantPark Investment Corporation by 28.4% in the first quarter. UBS Group AG now owns 1,520,945 shares of the asset manager’s stock worth $12,381,000 after buying an additional 336,001 shares during the period. Mckinley Capital Management LLC Delaware purchased a new position in PennantPark Investment Corporation during the first quarter worth approximately $2,166,000. Finally, Oxford Asset Management purchased a new position in PennantPark Investment Corporation during the first quarter worth approximately $2,077,000. Hedge funds and other institutional investors own 43.84% of the company’s stock.

Shares of PennantPark Investment Corporation (NASDAQ PNNT) opened at 7.71 on Friday. PennantPark Investment Corporation has a 52-week low of $6.86 and a 52-week high of $8.68. The stock’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.81.

PennantPark Investment Corporation (NASDAQ:PNNT) last posted its earnings results on Monday, August 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $31.10 million for the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, equities analysts predict that PennantPark Investment Corporation will post $0.83 earnings per share for the current fiscal year.

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PNNT has been the topic of a number of research reports. Compass Point initiated coverage on PennantPark Investment Corporation in a research note on Thursday, July 13th. They set a “buy” rating and a $8.50 price target on the stock. Zacks Investment Research upgraded PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Wednesday, May 3rd. Jefferies Group LLC restated a “hold” rating and set a $8.00 price target on shares of PennantPark Investment Corporation in a research note on Friday, July 14th. BidaskClub upgraded PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $8.50 price target on shares of PennantPark Investment Corporation in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. PennantPark Investment Corporation currently has a consensus rating of “Hold” and a consensus price target of $8.19.

In other PennantPark Investment Corporation news, Chairman Arthur H. Penn bought 28,000 shares of PennantPark Investment Corporation stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $7.78 per share, for a total transaction of $217,840.00. Following the acquisition, the chairman now owns 183,400 shares of the company’s stock, valued at approximately $1,426,852. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Arthur H. Penn bought 17,000 shares of PennantPark Investment Corporation stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $7.77 per share, for a total transaction of $132,090.00. Following the acquisition, the chief executive officer now directly owns 183,400 shares in the company, valued at approximately $1,425,018. The disclosure for this purchase can be found here. Insiders have purchased a total of 109,000 shares of company stock worth $844,010 in the last 90 days. Company 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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Institutional Ownership by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

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