Condor Capital Management Boosts Stake in PennantPark Investment Co. (NASDAQ:PNNT)

Condor Capital Management raised its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,433 shares of the asset manager’s stock after buying an additional 10,994 shares during the quarter. Condor Capital Management owned about 0.30% of PennantPark Investment worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its holdings in shares of PennantPark Investment by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 46,704 shares of the asset manager’s stock worth $331,000 after purchasing an additional 3,283 shares in the last quarter. Truvestments Capital LLC boosted its holdings in shares of PennantPark Investment by 5.8% in the 4th quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager’s stock worth $2,710,000 after purchasing an additional 20,907 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of PennantPark Investment by 8.0% in the 4th quarter. Founders Financial Alliance LLC now owns 58,642 shares of the asset manager’s stock worth $415,000 after purchasing an additional 4,352 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of PennantPark Investment in the 4th quarter worth about $632,000. Finally, Crew Capital Management Ltd. purchased a new position in shares of PennantPark Investment in the 4th quarter worth about $110,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

PennantPark Investment Trading Down 0.2 %

Shares of PNNT stock opened at $7.08 on Thursday. The stock has a market capitalization of $461.97 million, a PE ratio of 27.21 and a beta of 1.45. PennantPark Investment Co. has a 1-year low of $6.43 and a 1-year high of $8.04. The business has a 50-day moving average of $7.09 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47.

PennantPark Investment Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 13.57%. The ex-dividend date is Friday, March 14th. PennantPark Investment’s payout ratio is 369.23%.

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.