PennantPark Investment (NASDAQ:PNNT) Rating Lowered to “Neutral” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH downgraded shares of PennantPark Investment (NASDAQ:PNNT) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat.com reports.

A number of other analysts also recently commented on the stock. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 target price on the stock in a report on Monday, September 9th. StockNews.com downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, PennantPark Investment has an average rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Stock Up 0.3 %

NASDAQ PNNT opened at $6.77 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.90. The company’s 50 day simple moving average is $6.95 and its 200 day simple moving average is $7.17. PennantPark Investment has a 12 month low of $6.31 and a 12 month high of $8.04. The company has a market capitalization of $442.08 million, a P/E ratio of 39.71 and a beta of 1.52.

PennantPark Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 14.18%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Investment’s dividend payout ratio (DPR) is currently 564.74%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC purchased a new position in shares of PennantPark Investment in the first quarter worth approximately $748,000. Condor Capital Management increased its position in shares of PennantPark Investment by 81.9% in the second quarter. Condor Capital Management now owns 519,177 shares of the asset manager’s stock worth $3,920,000 after acquiring an additional 233,685 shares in the last quarter. International Assets Investment Management LLC increased its position 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 in the last quarter. CANADA LIFE ASSURANCE Co grew its position in PennantPark Investment by 6.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock valued at $416,000 after purchasing an additional 3,402 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in PennantPark Investment by 14.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 661,933 shares of the asset manager’s stock valued at $4,998,000 after purchasing an additional 83,483 shares in the last quarter. 26.62% of the stock is owned by hedge funds and other institutional investors.

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.