Todays Report: Today, PennantPark Investment Corp. (PNNT) Lowered by FBR & Co

Today, PennantPark Investment Corp. (PNNT) Lowered by FBR & Co

FBR & Co downgraded shares of PennantPark Investment Corp. (NASDAQ:PNNT) from an outperform rating to a market perform rating in a report issued on Wednesday morning. FBR & Co currently has $8.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the company. Ladenburg Thalmann upgraded PennantPark Investment Corp. from a neutral rating to a buy rating in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded PennantPark Investment Corp. from a sell rating to a hold rating in a research report on Wednesday, October 12th. Jefferies Group reiterated a hold rating on shares of PennantPark Investment Corp. in a research report on Friday, August 12th. JMP Securities upped their price objective 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, DA Davidson cut shares of PennantPark Investment Corp. from a buy rating to a neutral rating and decreased 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. PennantPark Investment Corp. has a consensus rating of Hold and an average target price of $7.17.

PennantPark Investment Corp. (NASDAQ:PNNT) opened at 7.36 on Wednesday. The firm’s 50-day moving average is $7.49 and its 200 day moving average is $7.28. PennantPark Investment Corp. has a 12-month low of $4.65 and a 12-month high of $8.30.

PennantPark Investment Corp. (NASDAQ:PNNT) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 period in the prior year, the firm earned $0.27 EPS. On average, analysts forecast that PennantPark Investment Corp. will post $1.03 earnings per share for the current year.

In other news, Chairman Arthur H. Penn bought 20,000 shares of the business’s stock in a transaction on Friday, November 25th. The stock was acquired at an average price of $7.16 per share, with a total value of $143,200.00. Following the completion of the purchase, the chairman now directly owns 183,400 shares in the company, valued at $1,313,144. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aviv Efrat bought 28,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was purchased at an average cost of $7.08 per share, with a total value of $198,240.00. Following the purchase, the chief financial officer now owns 96,102 shares of the company’s stock, valued at $680,402.16. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware bought a new stake in PennantPark Investment Corp. during the second quarter worth $2,103,000. Assetmark Inc. raised its stake in PennantPark Investment Corp. by 1.4% in the second quarter. Assetmark Inc. now owns 167,426 shares of the company’s stock worth $1,144,000 after buying an additional 2,285 shares during the period. Stephens Inc. AR raised its stake in PennantPark Investment Corp. by 5.7% in the second quarter. Stephens Inc. AR now owns 16,675 shares of the company’s stock worth $114,000 after buying an additional 905 shares during the period. Janney Montgomery Scott LLC raised its stake 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 period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in PennantPark Investment Corp. by 4.5% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,750 shares of the company’s stock worth $108,000 after buying an additional 680 shares during the period. 32.54% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Corp. Company Profile

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