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

PennantPark Investment Co. (NASDAQ:PNNT) announced a monthly dividend on Tuesday, August 4th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.04 per share by the asset manager on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Friday, August 14th.

PennantPark Investment has increased its dividend payment by an average of 0.1%per year over the last three years and has raised 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 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 Up 3.1%

PennantPark Investment stock opened at $3.52 on Wednesday. The firm has a 50 day moving average price of $3.53 and a two-hundred day moving average price of $4.41. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. PennantPark Investment has a 52-week low of $3.19 and a 52-week high of $7.53. The firm has a market cap of $229.52 million, a price-to-earnings ratio of 13.52 and a beta of 0.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNNT. EverSource Wealth Advisors LLC lifted its stake in PennantPark Investment by 100.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,695 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 1,853 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of PennantPark Investment during the 3rd quarter worth $32,000. Advisory Services Network LLC purchased a new stake in PennantPark Investment in the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd lifted its holdings in PennantPark Investment by 127,180.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,364 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 6,359 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of PennantPark Investment in the fourth quarter valued at approximately $52,000. 26.62% of the stock is owned by institutional investors.

PennantPark Investment Company Profile

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.