Commonwealth Equity Services LLC Cuts Stock Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

Commonwealth Equity Services LLC trimmed its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 41.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 46,864 shares of the asset manager’s stock after selling 32,551 shares during the period. Commonwealth Equity Services LLC’s holdings in PennantPark Investment were worth $354,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNNT. Janney Montgomery Scott LLC boosted its holdings in shares of PennantPark Investment by 2.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 114,627 shares of the asset manager’s stock worth $792,000 after purchasing an additional 3,126 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in PennantPark Investment by 128.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 25,581 shares of the asset manager’s stock worth $177,000 after buying an additional 14,392 shares during the period. Aigen Investment Management LP purchased a new stake in PennantPark Investment in the fourth quarter worth about $101,000. Cape Investment Advisory Inc. purchased a new stake in PennantPark Investment in the fourth quarter worth about $67,000. Finally, Parallel Advisors LLC lifted its holdings in PennantPark Investment by 20.0% in the fourth quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock worth $87,000 after buying an additional 2,087 shares during the period. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a report on Monday, September 9th. StockNews.com downgraded shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

PennantPark Investment Price Performance

Shares of NASDAQ PNNT opened at $6.96 on Tuesday. PennantPark Investment Co. has a twelve month low of $6.01 and a twelve month high of $8.04. The firm has a market cap of $453.97 million, a P/E ratio of 7.57 and a beta of 1.52. The company has a 50 day moving average of $7.04 and a 200 day moving average of $7.16. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54.

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

PennantPark Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.96 dividend on an annualized basis and a yield of 13.79%. PennantPark Investment’s dividend payout ratio is presently 104.35%.

PennantPark Investment 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.