PennantPark Investment (NASDAQ:PNNT) Downgraded to Neutral Rating by 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 issued on Wednesday morning, MarketBeat.com reports.

Several other research firms have also commented on PNNT. 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 research note 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 analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.00.

PennantPark Investment Trading Down 2.3 %

PNNT opened at $6.75 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock’s fifty day moving average is $6.96 and its two-hundred day moving average is $7.17. The company has a market capitalization of $440.78 million, a P/E ratio of 39.71 and a beta of 1.52. PennantPark Investment has a 52 week low of $6.31 and a 52 week high of $8.04.

PennantPark Investment Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.22%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Investment’s dividend payout ratio is currently 564.74%.

Institutional Trading of PennantPark Investment

Several institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co boosted its position in shares of PennantPark Investment by 6.0% during 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 during the period. EMC Capital Management boosted its holdings in PennantPark Investment by 10.5% during the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $219,000 after acquiring an additional 3,014 shares during the period. Cetera Advisors LLC acquired a new position in PennantPark Investment in the 1st quarter valued at about $748,000. Brookstone Capital Management purchased a new stake in PennantPark Investment during the second quarter worth about $105,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of 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 worth $4,998,000 after purchasing an additional 83,483 shares in the last quarter. Hedge funds and other 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.