EMC Capital Management Has $91,000 Stock Holdings in PennantPark Investment Co. $PNNT

EMC Capital Management trimmed its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 58.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,321 shares of the asset manager’s stock after selling 18,468 shares during the quarter. EMC Capital Management’s holdings in PennantPark Investment were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PNNT. Quarry LP bought a new stake in PennantPark Investment in the first quarter valued at $34,000. First Horizon Advisors Inc. acquired a new stake in shares of PennantPark Investment during the 2nd quarter worth about $35,000. Allworth Financial LP lifted its holdings in PennantPark Investment by 7,742.4% during the 2nd quarter. Allworth Financial LP now owns 9,254 shares of the asset manager’s stock valued at $63,000 after purchasing an additional 9,136 shares during the last quarter. Integrity Alliance LLC. acquired a new position in PennantPark Investment in the first quarter valued at about $83,000. Finally, PharVision Advisers LLC bought a new stake in PennantPark Investment during the first quarter worth about $95,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Trading Down 1.0%

NASDAQ PNNT opened at $6.22 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment Co. has a 12 month low of $5.72 and a 12 month high of $7.53. The company has a market capitalization of $405.81 million, a PE ratio of 23.90 and a beta of 0.97. The stock has a 50-day simple moving average of $6.58 and a 200 day simple moving average of $6.84.

PennantPark Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date is Monday, November 17th. PennantPark Investment’s dividend payout ratio (DPR) is currently 457.14%.

Wall Street Analysts Forecast Growth

PNNT has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of PennantPark Investment from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $6.25 price target (down previously from $6.50) on shares of PennantPark Investment in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $6.17.

About PennantPark Investment

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.