Today: Today, PennantPark Investment Corp. (PNNT) Upgrade at Ladenburg Thalmann

Today, PennantPark Investment Corp. (PNNT) Upgrade at Ladenburg Thalmann

Ladenburg Thalmann upgraded shares of PennantPark Investment Corp. (NASDAQ:PNNT) from a neutral rating to a buy rating in a research report report published on Tuesday morning.

PNNT has been the topic of several other reports. Zacks Investment Research raised PennantPark Investment Corp. from a sell rating to a hold rating in a report on Wednesday, October 12th. JMP Securities upped their price objective on 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. Jefferies Group restated a hold rating on shares of PennantPark Investment Corp. in a research report on Friday, August 5th. FBR & Co upped their price objective on PennantPark Investment Corp. from $7.50 to $8.00 and gave the stock an outperform rating in a research report on Tuesday, August 9th. Finally, DA Davidson downgraded PennantPark Investment Corp. from a buy rating to a neutral rating and dropped their price objective for the stock from $10.00 to $7.00 in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $7.17.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.08 on Tuesday. The stock’s 50 day moving average price is $7.51 and its 200 day moving average price is $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 capitalization is $503.10 million.

PennantPark Investment Corp. (NASDAQ:PNNT) last released its earnings results on Monday, November 21st. The company reported $0.21 earnings per share (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 period last year, the business earned $0.27 EPS. On average, equities analysts anticipate that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of PennantPark Investment Corp. during the second quarter worth about $5,420,000. Burgundy Asset Management Ltd. bought a new position in shares of PennantPark Investment Corp. during the second quarter worth about $4,911,000. Ares Management LLC increased its position in shares of PennantPark Investment Corp. by 115.6% in the third quarter. Ares Management LLC now owns 963,259 shares of the company’s stock worth $7,244,000 after buying an additional 516,511 shares during the period. Nuveen Fund Advisors LLC bought a new position in shares of PennantPark Investment Corp. during the second quarter worth about $2,355,000. Finally, Mckinley Capital Management LLC Delaware bought a new position in shares of PennantPark Investment Corp. during the second quarter worth about $2,103,000. Institutional investors own 33.70% of the company’s stock.

About PennantPark Investment Corp.

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