PennantPark Investment Co. (NASDAQ:PNNT) to Issue Monthly Dividend of $0.04

PennantPark Investment Co. (NASDAQ:PNNT) declared a monthly dividend on Monday, May 4th. Shareholders of record on Friday, May 15th will be given a dividend of 0.04 per share by the asset manager on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Friday, May 15th.

PennantPark Investment has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. PennantPark Investment has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PennantPark Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 60.0%.

PennantPark Investment Stock Performance

PennantPark Investment stock opened at $4.82 on Tuesday. PennantPark Investment has a 12-month low of $4.29 and a 12-month high of $7.53. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The business’s 50-day moving average price is $4.70 and its two-hundred day moving average price is $5.56. The stock has a market cap of $314.40 million, a PE ratio of 18.52 and a beta of 0.63.

Insider Activity at PennantPark Investment

In related news, CFO Richard T. Allorto, Jr. acquired 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $4.88 per share, with a total value of $73,200.00. Following the completion of the purchase, the chief financial officer directly owned 30,000 shares in the company, valued at $146,400. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennantPark Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in PNNT. Closed End Fund Advisors Inc. acquired a new position in shares of PennantPark Investment in the fourth quarter worth approximately $895,000. Jane Street Group LLC acquired a new position in shares of PennantPark Investment in the fourth quarter worth approximately $820,000. XTX Topco Ltd acquired a new position in shares of PennantPark Investment in the fourth quarter worth approximately $682,000. Sunbelt Securities Inc. lifted its stake in shares of PennantPark Investment by 493.1% in the third quarter. Sunbelt Securities Inc. now owns 104,245 shares of the asset manager’s stock worth $699,000 after acquiring an additional 86,668 shares during the period. Finally, Gallagher Capital Advisors LLC acquired a new position in shares of PennantPark Investment in the fourth quarter worth approximately $422,000. 26.62% of the stock is owned by institutional investors and hedge funds.

About PennantPark Investment

PennantPark Investment Corporation is a publicly traded closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Since its formation in 2006, PennantPark has focused on providing customized financing solutions to middle-market companies across the United States. The firm’s investment advisory services are provided by PennantPark Investment Advisers, LLC, which sources and structures transactions tailored to the unique needs of its portfolio companies.

The company’s core strategy centers on debt and equity investments in U.S.-based businesses, typically those with annual revenues between $10 million and $200 million.