PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 638,551 shares of the asset manager’s stock after selling 23,382 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.98% of PennantPark Investment worth $4,463,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of PennantPark Investment by 599.0% in the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after purchasing an additional 187,787 shares during the period. Founders Financial Alliance LLC increased its position in PennantPark Investment by 28.0% in the 2nd quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 10,339 shares during the period. Garner Asset Management Corp raised its stake in PennantPark Investment by 9.9% during the 2nd quarter. Garner Asset Management Corp now owns 106,614 shares of the asset manager’s stock valued at $805,000 after acquiring an additional 9,610 shares in the last quarter. Condor Capital Management boosted its position in PennantPark Investment by 81.9% during the 2nd quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock worth $3,920,000 after acquiring an additional 233,685 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new position in shares of PennantPark Investment in the second quarter worth $1,785,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

Wall Street Analyst Weigh In

PNNT has been the topic of a number of recent analyst reports. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective on the stock in a research note on Monday, September 9th. StockNews.com lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

PennantPark Investment Trading Down 0.3 %

Shares of PNNT stock opened at $6.98 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock has a 50-day simple moving average of $6.98 and a 200 day simple moving average of $7.19. PennantPark Investment Co. has a fifty-two week low of $6.01 and a fifty-two week high of $8.04. The stock has a market capitalization of $455.79 million, a P/E ratio of 10.58 and a beta of 1.52.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. PennantPark Investment had a net margin of 30.24% and a return on equity of 12.29%. The company had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.31 million. On average, sell-side analysts expect that PennantPark Investment Co. will post 0.93 earnings per share for the current fiscal year.

PennantPark Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.96 annualized dividend and a yield of 13.75%. PennantPark Investment’s dividend payout ratio (DPR) is 145.46%.

PennantPark Investment Profile

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.