Mckinley Capital Management LLC Delaware Raises Stake in PennantPark Investment Corporation (PNNT)
Mckinley Capital Management LLC Delaware boosted its stake in PennantPark Investment Corporation (NASDAQ:PNNT) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 271,788 shares of the asset manager’s stock after acquiring an additional 8,751 shares during the quarter. Mckinley Capital Management LLC Delaware owned about 0.38% of PennantPark Investment worth $2,041,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System acquired a new stake in PennantPark Investment in the first quarter worth $344,000. Credit Suisse AG raised its stake in shares of PennantPark Investment by 330.4% during the 1st quarter. Credit Suisse AG now owns 68,000 shares of the asset manager’s stock worth $554,000 after purchasing an additional 52,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in PennantPark Investment by 95.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,142 shares of the asset manager’s stock valued at $921,000 after buying an additional 55,258 shares in the last quarter. Aperio Group LLC raised its position in PennantPark Investment by 31.3% in the 2nd quarter. Aperio Group LLC now owns 67,684 shares of the asset manager’s stock valued at $500,000 after purchasing an additional 16,151 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in PennantPark Investment by 10.7% during the second quarter. Janney Montgomery Scott LLC now owns 147,464 shares of the asset manager’s stock worth $1,090,000 after acquiring an additional 14,215 shares in the last quarter. Hedge funds and other institutional investors own 42.64% of the company’s stock.
A number of equities research analysts have issued reports on the stock. J P Morgan Chase & Co raised shares of PennantPark Investment from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $8.50 in a report on Wednesday, August 9th. BidaskClub upgraded shares of PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods set a $9.00 target price on PennantPark Investment and gave the company a “hold” rating in a research note on Friday, August 25th. Jefferies Group reissued a “hold” rating and set a $8.00 price target on shares of PennantPark Investment in a report on Sunday, November 5th. Finally, Zacks Investment Research cut PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. PennantPark Investment currently has a consensus rating of “Hold” and a consensus target price of $8.50.
Shares of PennantPark Investment Corporation (NASDAQ PNNT) traded down $0.20 during mid-day trading on Friday, reaching $7.22. 786,900 shares of the company traded hands, compared to its average volume of 325,558. PennantPark Investment Corporation has a 52 week low of $7.20 and a 52 week high of $8.68. The company has a quick ratio of 4.54, a current ratio of 4.54 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $513.06, a PE ratio of 9.06, a P/E/G ratio of 4.90 and a beta of 1.30.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). PennantPark Investment had a net margin of 53.92% and a return on equity of 9.11%. The business had revenue of $27.87 million during the quarter, compared to analysts’ expectations of $29.19 million. During the same period in the previous year, the business posted $0.21 EPS. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. analysts predict that PennantPark Investment Corporation will post 0.83 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Mckinley Capital Management LLC Delaware Raises Stake in PennantPark Investment Corporation (PNNT)” was originally reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/12/01/mckinley-capital-management-llc-delaware-raises-stake-in-pennantpark-investment-corporation-pnnt.html.
PennantPark Investment 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.
Receive News & Ratings for PennantPark Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.