PennantPark Investment (NASDAQ:PNNT) Stock Price Crosses Above Two Hundred Day Moving Average of $7.02

PennantPark Investment Co. (NASDAQ:PNNT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.02 and traded as high as $7.45. PennantPark Investment shares last traded at $7.44, with a volume of 279,610 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Raymond James lowered PennantPark Investment from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods upgraded shares of PennantPark Investment to a “hold” rating in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.94.

PennantPark Investment Price Performance

The business has a fifty day moving average of $7.37 and a two-hundred day moving average of $7.02. The firm has a market capitalization of $492.08 million, a price-to-earnings ratio of 8.21 and a beta of 1.49. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.63 and a current ratio of 0.63.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $35.98 million during the quarter, compared to analyst estimates of $36.22 million. PennantPark Investment had a net margin of 40.14% and a return on equity of 13.65%. As a group, research analysts predict that PennantPark Investment Co. will post 0.92 EPS for the current fiscal year.

PennantPark Investment Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.72%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from PennantPark Investment’s previous monthly dividend of $0.07. PennantPark Investment’s payout ratio is presently 104.35%.

Institutional Trading of PennantPark Investment

Institutional investors have recently bought and sold shares of the business. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of PennantPark Investment in the fourth quarter valued at approximately $52,000. Cape Investment Advisory Inc. acquired a new stake in PennantPark Investment during the fourth quarter worth approximately $67,000. Parallel Advisors LLC increased its stake in PennantPark Investment by 20.0% during the 4th 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 period. Tucker Asset Management LLC acquired a new position in PennantPark Investment in the 4th quarter valued at $90,000. Finally, Aigen Investment Management LP bought a new position in shares of PennantPark Investment in the fourth quarter worth $101,000. Institutional investors own 26.62% of the company’s stock.

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.