PennantPark Investment (NASDAQ:PNNT) Stock Breaks Above 50 Day Moving Average – Here’s What Happened

PennantPark Investment Co. (NASDAQ:PNNT)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $3.29 and traded as high as $3.44. PennantPark Investment shares last traded at $3.3610, with a volume of 1,608,271 shares.

PennantPark Investment Stock Performance

The business has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $4.04. The company has a market cap of $219.46 million, a P/E ratio of 12.93 and a beta of 0.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 14.3%. PennantPark Investment’s payout ratio is 300.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in shares of PennantPark Investment in the 2nd quarter valued at $1,864,000. NewEdge Wealth LLC acquired a new position in PennantPark Investment during the 2nd quarter worth approximately $1,068,000. Bank of America Corp DE purchased a new position in PennantPark Investment in the 2nd quarter valued at approximately $1,065,000. BlackRock Inc. purchased a new stake in shares of PennantPark Investment in the second quarter worth about $909,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of PennantPark Investment in the first quarter valued at approximately $700,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation (NASDAQ: PNNT) is a business development company that provides financing to middle-market businesses. The company primarily invests in privately negotiated transactions involving established companies, seeking to generate income and, to a lesser extent, capital appreciation.

Its investment portfolio generally includes senior secured loans, subordinated debt and equity investments. PennantPark Investment may provide financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.