Todays Report: Today, 7,217 Shares of PennantPark Investment Corp. (PNNT) are sold by Assetmark Inc.

Today, 7,217 Shares of PennantPark Investment Corp. (PNNT) are sold by Assetmark Inc.

Assetmark Inc. reduced its stake in shares of PennantPark Investment Corp. (NASDAQ:PNNT) by 4.3% during the third quarter, Holdings Channel reports. The firm owned 160,209 shares of the company’s stock after selling 7,217 shares during the period. Assetmark Inc.’s holdings in PennantPark Investment Corp. were worth $1,204,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Delphi Financial Group Inc. raised its position in PennantPark Investment Corp. by 0.9% in the second quarter. Delphi Financial Group Inc. now owns 1,837,526 shares of the company’s stock worth $12,532,000 after buying an additional 15,817 shares in the last quarter. Muzinich & Co. Inc. raised its position in PennantPark Investment Corp. by 23.4% in the third quarter. Muzinich & Co. Inc. now owns 809,431 shares of the company’s stock worth $6,087,000 after buying an additional 153,649 shares in the last quarter. Bank of Montreal Can purchased a new position in PennantPark Investment Corp. during the second quarter worth $5,420,000. Burgundy Asset Management Ltd. purchased a new position in PennantPark Investment Corp. during the second quarter worth $4,911,000. Finally, Wells Fargo & Company MN raised its position in PennantPark Investment Corp. by 9.2% in the third quarter. Wells Fargo & Company MN now owns 544,940 shares of the company’s stock worth $4,097,000 after buying an additional 45,874 shares in the last quarter. 33.70% of the stock is currently owned by institutional investors.

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.08 on Friday. The stock has a 50 day moving average of $7.51 and a 200 day moving average of $7.26. PennantPark Investment Corp. has a 52-week low of $4.65 and a 52-week high of $8.30. The firm’s market cap is $503.10 million.

PennantPark Investment Corp. (NASDAQ:PNNT) last announced its earnings results on Monday, November 21st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a return on equity of 10.71% and a net margin of 4.38%. During the same quarter last year, the firm earned $0.27 earnings per share. Equities analysts predict that PennantPark Investment Corp. will post $1.03 EPS for the current fiscal year.

A number of research firms have recently weighed in on PNNT. Zacks Investment Research lowered shares of PennantPark Investment Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday. FBR & Co lowered shares of PennantPark Investment Corp. from an “outperform” rating to a “market perform” rating and set a $8.00 price target for the company. in a research report on Wednesday. Jefferies Group reaffirmed a “hold” rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. JMP Securities upped their price target on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a research report on Wednesday, August 10th. Finally, Ladenburg Thalmann raised shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. PennantPark Investment Corp. has a consensus rating of “Hold” and a consensus target price of $7.17.

About PennantPark Investment Corp.

PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments.

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