JPMorgan Chase & Co. Cuts Stock Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

JPMorgan Chase & Co. lessened its position in PennantPark Investment Co. (NASDAQ:PNNT) by 52.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,548 shares of the asset manager’s stock after selling 17,185 shares during the quarter. JPMorgan Chase & Co.’s holdings in PennantPark Investment were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PNNT. International Assets Investment Management LLC boosted its holdings in PennantPark Investment by 599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after acquiring an additional 187,787 shares during the period. Verition Fund Management LLC purchased a new stake in PennantPark Investment in the 3rd quarter worth approximately $74,000. Confluence Investment Management LLC grew its position in shares of PennantPark Investment by 0.9% in the 3rd quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager’s stock worth $2,115,000 after buying an additional 2,563 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of PennantPark Investment in the 3rd quarter worth approximately $173,000. Finally, Quantbot Technologies LP purchased a new position in PennantPark Investment during the 3rd quarter valued at $133,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Stock Up 1.3 %

PennantPark Investment stock opened at $7.11 on Monday. The stock has a market cap of $464.28 million, a PE ratio of 41.83 and a beta of 1.47. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty day moving average of $6.96 and a 200 day moving average of $6.98. PennantPark Investment Co. has a one year low of $6.43 and a one year high of $8.04.

PennantPark Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 13.50%. The ex-dividend date of this dividend is Wednesday, January 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 564.74%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH downgraded 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 assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

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.