PennantPark Investment (NASDAQ:PNNT) Stock Rating Lowered by LADENBURG THALM/SH SH

PennantPark Investment (NASDAQ:PNNT) was downgraded by LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat Ratings reports.

Several other research firms have also recently issued reports on PNNT. Compass Point raised shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a report on Monday, September 9th. StockNews.com lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Trading Down 0.4 %

NASDAQ PNNT opened at $6.91 on Wednesday. The stock has a market capitalization of $451.22 million, a P/E ratio of 40.65 and a beta of 1.52. PennantPark Investment has a 52-week low of $6.31 and a 52-week high of $8.04. The firm has a 50-day moving average price of $6.96 and a 200 day moving average price of $7.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54.

Institutional Trading of PennantPark Investment

Several large investors have recently modified their holdings of the business. Paloma Partners Management Co acquired a new stake in shares of PennantPark Investment in the third quarter valued at approximately $173,000. Verition Fund Management LLC acquired a new stake in shares of PennantPark Investment in the third quarter valued at approximately $74,000. Quantbot Technologies LP acquired a new stake in shares of PennantPark Investment in the third quarter valued at approximately $133,000. Truvestments Capital LLC grew its position in shares of PennantPark Investment by 16.4% in the third quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock valued at $2,530,000 after purchasing an additional 50,907 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of PennantPark Investment by 6.7% in the third quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after purchasing an additional 40,487 shares during the last quarter. 26.62% of the stock is currently owned by institutional investors and hedge funds.

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.