PennantPark Investment Co. (NASDAQ:PNNT) Declares Monthly Dividend of $0.07

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.07 per share by the asset manager on Monday, June 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 11.72%. The ex-dividend date is Tuesday, May 14th.

PennantPark Investment has raised its dividend payment by an average of 14.2% annually over the last three years. PennantPark Investment has a payout ratio of 91.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect PennantPark Investment to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 92.3%.

PennantPark Investment Stock Up 1.8 %

NASDAQ:PNNT traded up $0.13 during midday trading on Monday, reaching $7.17. 480,306 shares of the stock traded hands, compared to its average volume of 429,798. PennantPark Investment has a 12-month low of $4.87 and a 12-month high of $7.27. The business has a 50-day moving average of $6.86 and a two-hundred day moving average of $6.75. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $467.63 million, a PE ratio of 9.69 and a beta of 1.49.

PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. PennantPark Investment had a net margin of 32.55% and a return on equity of 14.17%. The company had revenue of $34.34 million during the quarter, compared to analysts’ expectations of $32.49 million. On average, equities analysts forecast that PennantPark Investment will post 0.94 earnings per share for the current fiscal year.

Insider Transactions at PennantPark Investment

In other news, Director Jose A. Briones purchased 7,450 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $6.70 per share, for a total transaction of $49,915.00. Following the purchase, the director now owns 251,735 shares in the company, valued at $1,686,624.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other PennantPark Investment news, Director Jose A. Briones acquired 7,450 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $6.70 per share, with a total value of $49,915.00. Following the acquisition, the director now directly owns 251,735 shares of the company’s stock, valued at $1,686,624.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jose A. Briones bought 3,800 shares of PennantPark Investment stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $6.67 per share, with a total value of $25,346.00. Following the acquisition, the director now owns 255,535 shares of the company’s stock, valued at $1,704,418.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 22,372 shares of company stock worth $151,258. Company insiders own 3.00% of the company’s stock.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.