Legacy Capital Wealth Partners LLC Sells 19,662 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Legacy Capital Wealth Partners LLC lowered its position in PennantPark Investment Co. (NASDAQ:PNNT) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,538 shares of the asset manager’s stock after selling 19,662 shares during the period. Legacy Capital Wealth Partners LLC owned about 0.34% of PennantPark Investment worth $1,561,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings 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 worth $1,532,000 after acquiring an additional 187,787 shares during the period. Grimes & Company Inc. bought a new stake in PennantPark Investment during the fourth quarter valued at about $443,000. Janney Montgomery Scott LLC grew its holdings in PennantPark Investment by 12.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager’s stock valued at $927,000 after purchasing an additional 14,124 shares during the period. Verition Fund Management LLC bought a new stake in PennantPark Investment during the third quarter valued at about $74,000. Finally, Strategic Financial Concepts LLC bought a new stake in PennantPark Investment during the fourth quarter valued at about $115,000. Institutional investors own 26.62% of the company’s stock.

Wall Street Analyst Weigh In

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

PennantPark Investment Price Performance

Shares of PennantPark Investment stock opened at $7.22 on Friday. The stock’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $6.98. PennantPark Investment Co. has a 52 week low of $6.43 and a 52 week high of $8.04. The company has a market capitalization of $471.14 million, a price-to-earnings ratio of 7.75 and a beta of 1.47. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.96 annualized dividend and a dividend yield of 13.31%. PennantPark Investment’s payout ratio is 564.74%.

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.