Brokerages predict that PennantPark Investment Corp. (NASDAQ:PNNT) will post $0.18 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for PennantPark Investment’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.19. PennantPark Investment posted earnings of $0.20 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 21st.
According to Zacks, analysts expect that PennantPark Investment will report full-year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.72. For the next fiscal year, analysts forecast that the company will post earnings of $0.74 per share, with EPS estimates ranging from $0.72 to $0.77. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow PennantPark Investment.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). PennantPark Investment had a net margin of 18.01% and a return on equity of 8.08%. The firm had revenue of $28.11 million for the quarter, compared to the consensus estimate of $29.38 million.
In other news, Chairman Arthur H. Penn purchased 15,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $6.30 per share, for a total transaction of $94,500.00. Following the acquisition, the chairman now owns 193,410 shares in the company, valued at $1,218,483. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 45,000 shares of company stock valued at $285,600. 2.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in PNNT. Quantamental Technologies LLC grew its holdings in PennantPark Investment by 2,255.0% during the 2nd quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock valued at $25,000 after buying an additional 3,811 shares in the last quarter. Destination Wealth Management bought a new position in shares of PennantPark Investment during the first quarter valued at approximately $61,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of PennantPark Investment during the second quarter valued at approximately $77,000. Moors & Cabot Inc. bought a new position in PennantPark Investment in the first quarter worth $96,000. Finally, Quad Cities Investment Group LLC raised its holdings in PennantPark Investment by 7,500.0% in the second quarter. Quad Cities Investment Group LLC now owns 15,200 shares of the asset manager’s stock worth $97,000 after purchasing an additional 15,000 shares in the last quarter. 41.87% of the stock is owned by institutional investors.
Shares of NASDAQ:PNNT traded up $0.06 during trading on Friday, hitting $6.24. 31,502 shares of the company’s stock were exchanged, compared to its average volume of 286,972. PennantPark Investment has a 1-year low of $6.16 and a 1-year high of $7.84. The firm has a 50-day moving average price of $6.44 and a two-hundred day moving average price of $6.70. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.19. The firm has a market cap of $418.36 million, a P/E ratio of 8.32 and a beta of 1.14.
About PennantPark Investment
PennantPark Investment Corporation 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 building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.
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