Trade Report: Today, PennantPark Investment Corp. (PNNT) Given Neutral Rating at Robert W. Baird

Today, PennantPark Investment Corp. (PNNT) Given Neutral Rating at Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of PennantPark Investment Corp. (NASDAQ:PNNT) in a report released on Saturday. Robert W. Baird currently has a $6.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut PennantPark Investment Corp. from a hold rating to a strong sell rating in a research report on Thursday. FBR & Co cut PennantPark Investment Corp. from an outperform rating to a market perform rating and set a $8.00 target price on the stock. in a research report on Wednesday. Ladenburg Thalmann upgraded PennantPark Investment Corp. from a neutral rating to a buy rating in a research report on Tuesday. Jefferies Group reiterated a hold rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. Finally, JMP Securities boosted their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $7.17.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.26 on Friday. The company’s 50-day moving average price is $7.50 and its 200-day moving average price is $7.26. PennantPark Investment Corp. has a 12 month low of $4.65 and a 12 month high of $8.30. The stock’s market cap is $515.90 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 Thomson Reuters’ 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 firm posted $0.27 EPS. Equities analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Delphi Financial Group Inc. boosted its stake 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. Ares Management LLC boosted its stake in 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 in the last quarter. Muzinich & Co. Inc. boosted its stake 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 stake in PennantPark Investment Corp. during the second quarter worth $5,420,000. Finally, Burgundy Asset Management Ltd. purchased a new stake in PennantPark Investment Corp. during the second quarter worth $4,911,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

About PennantPark Investment Corp.

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