PennantPark Investment (NASDAQ:PNNT) Share Price Crosses Above 200 Day Moving Average of $7.02

PennantPark Investment Co. (NASDAQ:PNNT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.02 and traded as high as $7.45. PennantPark Investment shares last traded at $7.44, with a volume of 279,610 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PNNT shares. Raymond James cut PennantPark Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods raised PennantPark Investment to a “hold” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.94.

PennantPark Investment Stock Performance

The stock has a fifty day moving average price of $7.37 and a 200 day moving average price of $7.02. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40. The firm has a market cap of $492.08 million, a price-to-earnings ratio of 8.21 and a beta of 1.49.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings results on Wednesday, May 8th. The asset manager reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $35.98 million during the quarter, compared to the consensus estimate of $36.22 million. PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. As a group, analysts predict that PennantPark Investment Co. will post 0.92 earnings per share for the current year.

PennantPark Investment Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.08 dividend. This is an increase from PennantPark Investment’s previous monthly dividend of $0.07. This represents a $0.96 annualized dividend and a dividend yield of 12.72%. The ex-dividend date is Friday, June 14th. PennantPark Investment’s dividend payout ratio (DPR) is currently 104.35%.

Institutional Trading of PennantPark Investment

Hedge funds have recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. bought a new position in PennantPark Investment in the 4th quarter worth approximately $52,000. Cape Investment Advisory Inc. acquired a new position in PennantPark Investment during the 4th quarter valued at $67,000. Parallel Advisors LLC raised its stake in PennantPark Investment by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 2,087 shares during the last quarter. Tucker Asset Management LLC bought a new stake in PennantPark Investment in the 4th quarter valued at $90,000. Finally, Aigen Investment Management LP acquired a new stake in PennantPark Investment in the 4th quarter worth $101,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

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.