PennantPark Investment Co. (NASDAQ:PNNT) Director Jose A. Briones Acquires 3,640 Shares

PennantPark Investment Co. (NASDAQ:PNNT) Director Jose A. Briones purchased 3,640 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $6.88 per share, for a total transaction of $25,043.20. Following the purchase, the director now owns 268,972 shares in the company, valued at approximately $1,850,527.36. The trade was a 1.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PennantPark Investment Stock Up 1.5%

PennantPark Investment stock opened at $6.81 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The business’s 50-day simple moving average is $6.63 and its two-hundred day simple moving average is $6.88. The company has a market cap of $444.73 million, a PE ratio of 26.20 and a beta of 1.02. PennantPark Investment Co. has a fifty-two week low of $5.72 and a fifty-two week high of $8.04.

PennantPark Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.08 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.09%. PennantPark Investment’s payout ratio is 640.00%.

Institutional Trading of PennantPark Investment

A number of hedge funds have recently modified their holdings of PNNT. Quarry LP purchased a new stake in shares of PennantPark Investment in the first quarter worth about $34,000. Ameriflex Group Inc. purchased a new stake in shares of PennantPark Investment in the fourth quarter worth about $39,000. Sanctuary Advisors LLC purchased a new stake in shares of PennantPark Investment in the fourth quarter worth about $71,000. BNP Paribas Financial Markets purchased a new stake in shares of PennantPark Investment in the fourth quarter worth about $80,000. Finally, Virtu Financial LLC purchased a new stake in shares of PennantPark Investment in the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded PennantPark Investment to a “hold” rating in a research note on Wednesday. StockNews.com upgraded PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th.

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.