Trading Report: Today, PennantPark Investment Corp. (PNNT) CFO Aviv Efrat Buys 28,000 Shares

Today, PennantPark Investment Corp. (PNNT) CFO Aviv Efrat Buys 28,000 Shares

PennantPark Investment Corp. (NASDAQ:PNNT) CFO Aviv Efrat bought 28,000 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were acquired at an average cost of $7.08 per share, for a total transaction of $198,240.00. Following the completion of the acquisition, the chief financial officer now directly owns 96,102 shares of the company’s stock, valued at approximately $680,402.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.36 on Tuesday. The firm’s 50 day moving average is $7.49 and its 200-day moving average is $7.28. PennantPark Investment Corp. has a 1-year low of $4.65 and a 1-year high of $8.30.

PennantPark Investment Corp. (NASDAQ:PNNT) last released its earnings results on Monday, November 21st. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. PennantPark Investment Corp. had a net margin of 4.38% and a return on equity of 10.77%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Analysts predict that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.

Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Ladenburg Thalmann raised shares of PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd. Jefferies Group reaffirmed a “hold” rating on shares of PennantPark Investment Corp. in a report on Friday, August 12th. JMP Securities raised their target price on shares of PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th. Finally, FBR & Co raised their target price on shares of PennantPark Investment Corp. from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. PennantPark Investment Corp. currently has a consensus rating of “Hold” and a consensus price target of $7.17.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in PennantPark Investment Corp. by 152.7% in the second quarter. Janney Montgomery Scott LLC now owns 322,286 shares of the company’s stock worth $2,077,000 after buying an additional 194,751 shares during the last quarter. Relative Value Partners Group LLC boosted its position in PennantPark Investment Corp. by 19.7% in the second quarter. Relative Value Partners Group LLC now owns 189,532 shares of the company’s stock worth $1,295,000 after buying an additional 31,200 shares during the last quarter. Burgundy Asset Management Ltd. bought a new position in PennantPark Investment Corp. during the second quarter worth $4,911,000. B. Riley Financial Inc. boosted its position in PennantPark Investment Corp. by 4.6% in the second quarter. B. Riley Financial Inc. now owns 318,479 shares of the company’s stock worth $2,175,000 after buying an additional 14,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in PennantPark Investment Corp. by 14.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,818 shares of the company’s stock worth $436,000 after buying an additional 8,165 shares during the last quarter. Hedge funds and other institutional investors own 32.54% of the company’s stock.

About PennantPark Investment Corp.

Related posts

Leave a Comment