Founders Financial Alliance LLC Acquires 4,352 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Founders Financial Alliance LLC increased its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,642 shares of the asset manager’s stock after purchasing an additional 4,352 shares during the quarter. Founders Financial Alliance LLC’s holdings in PennantPark Investment were worth $415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in PennantPark Investment in the fourth quarter worth about $632,000. Grimes & Company Inc. purchased a new stake in PennantPark Investment in the 4th quarter worth approximately $443,000. Truvestments Capital LLC raised its stake in PennantPark Investment by 16.4% during the 3rd quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock worth $2,530,000 after acquiring an additional 50,907 shares during the period. Advisors Asset Management Inc. lifted its holdings in PennantPark Investment by 6.7% during the third quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after purchasing an additional 40,487 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of PennantPark Investment in the third quarter worth approximately $173,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Stock Performance

NASDAQ PNNT opened at $7.19 on Tuesday. The business has a 50-day moving average price of $7.10 and a 200-day moving average price of $7.00. The firm has a market cap of $469.15 million, a price-to-earnings ratio of 27.64 and a beta of 1.45. PennantPark Investment Co. has a twelve month low of $6.43 and a twelve month high of $8.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 13.36%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Investment’s dividend payout ratio (DPR) is currently 369.23%.

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.