Legal & General Group Plc Takes $1.86 Million Position in PennantPark Investment Co. $PNNT

Legal & General Group Plc bought a new position in shares of PennantPark Investment Co. (NASDAQ:PNNT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 536,493 shares of the asset manager’s stock, valued at approximately $1,864,000. Legal & General Group Plc owned 0.82% of PennantPark Investment as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in PennantPark Investment by 100.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,695 shares of the asset manager’s stock worth $25,000 after buying an additional 1,853 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of PennantPark Investment by 6.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 67,685 shares of the asset manager’s stock valued at $463,000 after acquiring an additional 4,158 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of PennantPark Investment in the 3rd quarter valued at $32,000. Disciplined Investments LLC increased its stake in shares of PennantPark Investment by 41.7% in the fourth quarter. Disciplined Investments LLC now owns 17,000 shares of the asset manager’s stock worth $101,000 after acquiring an additional 5,000 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of PennantPark Investment in the third quarter worth $38,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PNNT. Truist Financial lowered their price target on shares of PennantPark Investment from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Oppenheimer reduced their price objective on PennantPark Investment from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.10.

PennantPark Investment Stock Performance

Shares of NASDAQ PNNT opened at $3.74 on Monday. The company’s fifty day moving average price is $3.54 and its 200 day moving average price is $4.08. PennantPark Investment Co. has a 1 year low of $3.19 and a 1 year high of $7.29. The company has a market capitalization of $244.21 million, a PE ratio of 14.39 and a beta of 0.61. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. PennantPark Investment’s dividend payout ratio (DPR) is 300.00%.

PennantPark Investment 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.