Legacy Capital Wealth Partners LLC Raises Stake in PennantPark Investment Co. (NASDAQ:PNNT)

Legacy Capital Wealth Partners LLC increased its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 1.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 240,200 shares of the asset manager’s stock after buying an additional 3,744 shares during the quarter. Legacy Capital Wealth Partners LLC owned 0.37% of PennantPark Investment worth $1,679,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Confluence Investment Management LLC lifted its holdings in PennantPark Investment by 0.9% during the third quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager’s stock valued at $2,115,000 after purchasing an additional 2,563 shares during the last quarter. EMC Capital Management lifted its holdings in PennantPark Investment by 10.5% during the first quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 3,014 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in PennantPark Investment by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock valued at $416,000 after purchasing an additional 3,402 shares during the last quarter. Garner Asset Management Corp lifted its holdings in PennantPark Investment by 9.9% during the second quarter. Garner Asset Management Corp now owns 106,614 shares of the asset manager’s stock valued at $805,000 after purchasing an additional 9,610 shares during the last quarter. Finally, Founders Financial Alliance LLC lifted its holdings in PennantPark Investment by 28.0% during the second quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock valued at $357,000 after purchasing an additional 10,339 shares during the last quarter. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Trading Down 0.1 %

Shares of PNNT opened at $7.04 on Friday. The business’s 50-day moving average price is $6.96 and its 200-day moving average price is $7.19. PennantPark Investment Co. has a twelve month low of $6.31 and a twelve month high of $8.04. The stock has a market cap of $459.71 million, a PE ratio of 10.67 and a beta of 1.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $37.00 million for the quarter, compared to analysts’ expectations of $36.31 million. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. On average, equities analysts forecast that PennantPark Investment Co. will post 0.93 EPS for the current fiscal year.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 13.64%. The ex-dividend date is Friday, November 15th. PennantPark Investment’s dividend payout ratio (DPR) is 145.46%.

Analysts Set New Price Targets

Several research firms have commented on PNNT. StockNews.com downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Compass Point upgraded PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target on the stock in a research report on Monday, September 9th.

About PennantPark Investment

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.