BidaskClub Upgrades PennantPark Investment (PNNT) to “Sell”

PennantPark Investment (NASDAQ:PNNT) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.

A number of other analysts also recently commented on the company. ValuEngine downgraded PennantPark Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded PennantPark Investment from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, April 11th. TheStreet upgraded PennantPark Investment from a “c” rating to a “b-” rating in a research report on Thursday, March 29th. Finally, Ladenburg Thalmann upgraded PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.21.

PNNT opened at $7.23 on Wednesday. The company has a current ratio of 6.66, a quick ratio of 6.66 and a debt-to-equity ratio of 0.76. The firm has a market cap of $500.98 million, a price-to-earnings ratio of 9.15, a PEG ratio of 4.74 and a beta of 1.12. PennantPark Investment has a one year low of $7.06 and a one year high of $7.13.

PennantPark Investment (NASDAQ:PNNT) last posted its earnings results on Wednesday, May 9th. The asset manager reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $27.23 million for the quarter, compared to the consensus estimate of $27.23 million. PennantPark Investment had a return on equity of 8.17% and a net margin of 38.78%. equities analysts anticipate that PennantPark Investment will post 0.74 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Ares Management LLC lifted its position in shares of PennantPark Investment by 5.7% in the fourth quarter. Ares Management LLC now owns 856,394 shares of the asset manager’s stock valued at $5,918,000 after acquiring an additional 46,000 shares in the last quarter. West Family Investments Inc. lifted its position in shares of PennantPark Investment by 11.6% in the fourth quarter. West Family Investments Inc. now owns 959,457 shares of the asset manager’s stock valued at $6,627,000 after acquiring an additional 100,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of PennantPark Investment by 179.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 465,980 shares of the asset manager’s stock valued at $3,220,000 after acquiring an additional 299,280 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of PennantPark Investment by 30.4% in the fourth quarter. Two Sigma Investments LP now owns 487,564 shares of the asset manager’s stock valued at $3,369,000 after acquiring an additional 113,680 shares in the last quarter. Finally, Claraphi Advisory Network LLC purchased a new stake in shares of PennantPark Investment in the fourth quarter valued at $263,000. Institutional investors and hedge funds own 43.53% of the company’s stock.

About PennantPark Investment

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.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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