ValuEngine upgraded shares of PennantPark Investment (NASDAQ:PNNT) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.

PNNT has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered shares of PennantPark Investment from a neutral rating to an underweight rating and lowered their price objective for the company from $6.50 to $6.00 in a research note on Tuesday, October 29th. Zacks Investment Research upgraded PennantPark Investment from a sell rating to a hold rating in a research report on Thursday, November 21st. Finally, BidaskClub lowered PennantPark Investment from a sell rating to a strong sell rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $7.25.

PNNT stock traded up $0.10 during trading on Tuesday, hitting $6.34. The company had a trading volume of 413,472 shares, compared to its average volume of 299,835. The business has a 50 day moving average of $6.08 and a 200 day moving average of $6.30. The firm has a market capitalization of $418.36 million, a price-to-earnings ratio of 9.61 and a beta of 1.12. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 1.18. PennantPark Investment has a fifty-two week low of $5.84 and a fifty-two week high of $7.40.

PennantPark Investment (NASDAQ:PNNT) last released its earnings results on Thursday, November 21st. The asset manager reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). The company had revenue of $27.93 million for the quarter, compared to analyst estimates of $28.50 million. PennantPark Investment had a net margin of 14.20% and a return on equity of 7.51%. As a group, equities analysts predict that PennantPark Investment will post 0.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 11.36%. The ex-dividend date is Wednesday, December 18th. PennantPark Investment’s dividend payout ratio (DPR) is presently 109.09%.

In other PennantPark Investment news, CEO Arthur H. Penn purchased 16,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was bought at an average cost of $6.17 per share, with a total value of $98,720.00. Following the acquisition, the chief executive officer now owns 193,410 shares of the company’s stock, valued at $1,193,339.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC lifted its stake in PennantPark Investment by 6.0% during the second quarter. Aperio Group LLC now owns 82,992 shares of the asset manager’s stock valued at $525,000 after purchasing an additional 4,665 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of PennantPark Investment by 0.3% in the third quarter. Confluence Investment Management LLC now owns 913,707 shares of the asset manager’s stock valued at $5,729,000 after buying an additional 2,538 shares in the last quarter. BlackRock Inc. increased its holdings in shares of PennantPark Investment by 8.4% in the second quarter. BlackRock Inc. now owns 352,616 shares of the asset manager’s stock valued at $2,228,000 after buying an additional 27,248 shares in the last quarter. Summit Global Investments lifted its position in shares of PennantPark Investment by 10.8% during the 2nd quarter. Summit Global Investments now owns 113,300 shares of the asset manager’s stock valued at $716,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of PennantPark Investment during the 2nd quarter valued at $4,274,000. 39.08% of the stock is currently owned by institutional investors.

PennantPark Investment Company Profile

PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

Featured Story: Key terms to understand channel trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.