Hennion & Walsh Asset Management Inc. Increases Position in PennantPark Investment Co. (NASDAQ:PNNT)

Hennion & Walsh Asset Management Inc. increased its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 661,933 shares of the asset manager’s stock after buying an additional 83,483 shares during the period. Hennion & Walsh Asset Management Inc. owned about 1.01% of PennantPark Investment worth $4,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new stake in PennantPark Investment in the fourth quarter valued at $52,000. Cape Investment Advisory Inc. purchased a new position in PennantPark Investment during the 4th quarter valued at about $67,000. Parallel Advisors LLC raised its position in PennantPark Investment by 20.0% during the fourth quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock worth $87,000 after acquiring an additional 2,087 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of PennantPark Investment in the fourth quarter valued at about $90,000. Finally, Brookstone Capital Management acquired a new stake in shares of PennantPark Investment in the second quarter valued at approximately $105,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James downgraded PennantPark Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. StockNews.com cut PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Compass Point reaffirmed a “sell” rating and set a $6.50 price objective on shares of PennantPark Investment in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods raised shares of PennantPark Investment to a “hold” rating in a research note on Friday, May 10th.

PennantPark Investment Trading Down 0.1 %

PNNT traded down $0.01 during trading on Monday, hitting $7.04. The company’s stock had a trading volume of 299,334 shares, compared to its average volume of 454,490. PennantPark Investment Co. has a twelve month low of $6.01 and a twelve month high of $8.04. The stock has a market cap of $459.71 million, a PE ratio of 7.66 and a beta of 1.52. The firm’s 50 day moving average price is $7.37 and its 200-day moving average price is $7.12. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90.

PennantPark Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 13.64%. The ex-dividend date is Friday, August 16th. PennantPark Investment’s payout ratio is currently 104.35%.

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.