Trading Report: Today: PennantPark Investment Corp. (PNNT) Given Average Rating of “Hold” by Brokerages

Today: PennantPark Investment Corp. (PNNT) Given Average Rating of “Hold” by Brokerages

Shares of PennantPark Investment Corp. (NASDAQ:PNNT) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $7.00.

PNNT has been the topic of several analyst reports. JMP Securities lifted their price objective on PennantPark Investment Corp. from $7.50 to $8.50 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th. Zacks Investment Research downgraded PennantPark Investment Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. FBR & Co lifted their price objective on PennantPark Investment Corp. from $7.50 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Jefferies Group restated a “hold” rating on shares of PennantPark Investment Corp. in a report on Friday, August 5th. Finally, Ladenburg Thalmann upgraded PennantPark Investment Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd.

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

Several large investors have recently made changes to their positions in PNNT. KCG Holdings Inc. bought a new stake in shares of PennantPark Investment Corp. during the second quarter worth about $102,000. Societe Generale bought a new stake in shares of PennantPark Investment Corp. during the second quarter worth about $104,000. Essex Financial Services Inc. bought a new stake in shares of PennantPark Investment Corp. during the second quarter worth about $104,000. Sheaff Brock Investment Advisors LLC raised its stake in shares of 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. Finally, GAM Holding AG bought a new stake in shares of PennantPark Investment Corp. during the third quarter worth about $113,000. 32.54% of the stock is currently owned by institutional investors.

PennantPark Investment Corp. (NASDAQ:PNNT) traded up 1.722% during midday trading on Monday, hitting $7.385. The stock had a trading volume of 435,136 shares. PennantPark Investment Corp. has a one year low of $4.65 and a one year high of $8.30. The stock has a 50-day moving average price of $7.50 and a 200 day moving average price of $7.26.

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 net margin of 4.38% and a return on equity of 10.77%. During the same period in the previous year, the company earned $0.27 EPS. On average, equities research analysts anticipate that PennantPark Investment Corp. will post $1.03 earnings per share for the current fiscal year.

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