PennantPark Investment Corp. (PNNT) Shares Bought by Bramshill Investments LLC
Bramshill Investments LLC grew its position in PennantPark Investment Corp. (NASDAQ:PNNT) by 72.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,696 shares of the asset manager’s stock after buying an additional 49,093 shares during the quarter. Bramshill Investments LLC’s holdings in PennantPark Investment were worth $817,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in PennantPark Investment by 88.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 57,137 shares of the asset manager’s stock worth $381,000 after purchasing an additional 26,820 shares in the last quarter. GSA Capital Partners LLP increased its position in PennantPark Investment by 27.8% during the 2nd quarter. GSA Capital Partners LLP now owns 190,945 shares of the asset manager’s stock worth $1,338,000 after purchasing an additional 41,521 shares in the last quarter. Millennium Management LLC increased its position in PennantPark Investment by 16.5% during the 1st quarter. Millennium Management LLC now owns 513,077 shares of the asset manager’s stock worth $3,427,000 after purchasing an additional 72,748 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in PennantPark Investment during the 1st quarter worth about $122,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in PennantPark Investment during the 2nd quarter worth about $158,000. Institutional investors and hedge funds own 42.66% of the company’s stock.
Shares of NASDAQ:PNNT opened at $7.54 on Monday. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.73. PennantPark Investment Corp. has a 12-month low of $6.29 and a 12-month high of $7.84. The stock has a market capitalization of $540.31 million, a price-to-earnings ratio of 9.54 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 9.55%. The ex-dividend date of this dividend is Friday, September 14th. PennantPark Investment’s payout ratio is 91.14%.
PNNT has been the subject of a number of recent research reports. Zacks Investment Research upgraded PennantPark Investment from a “sell” rating to a “hold” rating and set a $8.25 price objective for the company in a research report on Thursday, July 26th. BidaskClub upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research report on Thursday, May 24th. Finally, Keefe, Bruyette & Woods set a $8.00 price target on PennantPark Investment and gave the stock a “hold” rating in a research note on Thursday, August 9th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.06.
PennantPark Investment 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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