Legacy Capital Wealth Partners LLC Buys 3,744 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Legacy Capital Wealth Partners LLC increased its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 240,200 shares of the asset manager’s stock after purchasing an additional 3,744 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in PennantPark Investment were worth $1,679,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brookstone Capital Management purchased a new stake in PennantPark Investment in the second quarter worth approximately $105,000. EMC Capital Management boosted its stake in PennantPark Investment by 10.5% in the first quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock worth $219,000 after buying an additional 3,014 shares in the last quarter. Founders Financial Alliance LLC boosted its stake in PennantPark Investment by 28.0% in the second quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock worth $357,000 after buying an additional 10,339 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in PennantPark Investment by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock worth $416,000 after buying an additional 3,402 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in PennantPark Investment in the first quarter worth approximately $648,000. 26.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNNT. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 target price for the company in a research note on Monday, September 9th. StockNews.com lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

PennantPark Investment Stock Performance

NASDAQ:PNNT opened at $7.04 on Friday. The firm has a market cap of $459.71 million, a PE ratio of 10.67 and a beta of 1.52. PennantPark Investment Co. has a fifty-two week low of $6.31 and a fifty-two week high of $8.04. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day moving average price of $6.96 and a 200-day moving average price of $7.19.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.31 million. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. Equities research analysts predict that PennantPark Investment Co. will post 0.93 earnings per share for the current year.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.64%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 145.46%.

PennantPark Investment Company 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.