ValuEngine Downgrades PennantPark Investment (NASDAQ:PNNT) to Sell

ValuEngine lowered shares of PennantPark Investment (NASDAQ:PNNT) from a hold rating to a sell rating in a report published on Tuesday morning, ValuEngine reports.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded PennantPark Investment from a neutral rating to an underweight rating and cut their price target for the company from $6.50 to $6.00 in a research note on Tuesday, October 29th. BidaskClub downgraded PennantPark Investment from a sell rating to a strong sell rating in a research note on Friday, October 4th. TheStreet downgraded PennantPark Investment from a b- rating to a c rating in a research note on Tuesday, July 16th. Finally, Zacks Investment Research downgraded PennantPark Investment from a hold rating to a sell rating in a research note on Saturday, November 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. PennantPark Investment currently has an average rating of Hold and a consensus target price of $7.25.

PennantPark Investment stock traded down $0.01 during trading hours on Tuesday, hitting $6.04. The stock had a trading volume of 160,100 shares, compared to its average volume of 288,766. The company has a market cap of $408.98 million, a PE ratio of 8.05 and a beta of 1.12. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average of $6.15 and a two-hundred day moving average of $6.42. PennantPark Investment has a fifty-two week low of $6.00 and a fifty-two week high of $7.40.

PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.02). The firm had revenue of $28.11 million during the quarter, compared to the consensus estimate of $29.38 million. PennantPark Investment had a net margin of 18.01% and a return on equity of 8.08%. As a group, analysts forecast that PennantPark Investment will post 0.71 EPS for the current fiscal year.

In related news, Chairman Arthur H. Penn purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $6.35 per share, with a total value of $95,250.00. Following the purchase, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,228,153.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of PNNT. Quantamental Technologies LLC lifted its stake in shares of PennantPark Investment by 2,255.0% in the 2nd quarter. Quantamental Technologies LLC now owns 3,980 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 3,811 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of PennantPark Investment by 515.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,422 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 4,541 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of PennantPark Investment in the 2nd quarter valued at $77,000. Quad Cities Investment Group LLC raised its stake in PennantPark Investment by 7,500.0% during the 2nd quarter. Quad Cities Investment Group LLC now owns 15,200 shares of the asset manager’s stock worth $97,000 after buying an additional 15,000 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in PennantPark Investment during the 3rd quarter worth $159,000. 43.20% of the stock is currently owned by institutional investors.

PennantPark Investment Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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