Dean Capital Investments Management LLC bought a new position in shares of PennantPark Investment Corp. (NASDAQ:PNNT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,952 shares of the asset manager’s stock, valued at approximately $193,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eqis Capital Management Inc. acquired a new stake in PennantPark Investment during the fourth quarter worth approximately $143,000. Global X MANAGEMENT CO LLC grew its stake in PennantPark Investment by 49.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 24,829 shares of the asset manager’s stock worth $186,000 after purchasing an additional 8,165 shares during the period. Stevens Capital Management LP acquired a new stake in PennantPark Investment during the third quarter worth approximately $199,000. Stifel Financial Corp grew its stake in PennantPark Investment by 50.5% during the second quarter. Stifel Financial Corp now owns 27,700 shares of the asset manager’s stock worth $205,000 after purchasing an additional 9,300 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in PennantPark Investment by 552.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,044 shares of the asset manager’s stock worth $207,000 after purchasing an additional 23,747 shares during the period. 42.77% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Aviv Efrat purchased 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were acquired at an average price of $7.14 per share, for a total transaction of $71,400.00. Following the completion of the acquisition, the chief financial officer now owns 106,102 shares in the company, valued at $757,568.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Arthur H. Penn purchased 12,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was purchased at an average price of $7.10 per share, for a total transaction of $85,200.00. Following the acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at approximately $1,373,211. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,000 shares of company stock worth $344,280. Corporate insiders own 2.00% of the company’s stock.
PennantPark Investment Corp. (PNNT) opened at $6.41 on Tuesday. The stock has a market capitalization of $455.50, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 4.61 and a beta of 1.22. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. PennantPark Investment Corp. has a fifty-two week low of $6.29 and a fifty-two week high of $8.68.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $27.87 million during the quarter, compared to the consensus estimate of $29.19 million. PennantPark Investment had a return on equity of 8.72% and a net margin of 49.55%. The firm’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. equities analysts expect that PennantPark Investment Corp. will post 0.73 EPS for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research raised PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.50 target price on shares of PennantPark Investment in a research note on Thursday, October 26th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 target price on shares of PennantPark Investment in a research note on Sunday, November 5th. ValuEngine lowered PennantPark Investment from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, TheStreet lowered PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. PennantPark Investment has an average rating of “Hold” and a consensus target price of $8.38.
ILLEGAL ACTIVITY NOTICE: “27,952 Shares in PennantPark Investment Corp. (PNNT) Acquired by Dean Capital Investments Management LLC” was originally published by Stock Observer and is the sole property of of Stock Observer. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.thestockobserver.com/2018/02/06/27952-shares-in-pennantpark-investment-corp-pnnt-acquired-by-dean-capital-investments-management-llc.html.
PennantPark Investment Company Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
Want to see what other hedge funds are holding PNNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennantPark Investment Corp. (NASDAQ:PNNT).
Receive News & Ratings for PennantPark Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Investment and related companies with MarketBeat.com's FREE daily email newsletter.