PennantPark Investment Corporation (PNNT) Receives Daily News Sentiment Score of 0.07
Media headlines about PennantPark Investment Corporation (NASDAQ:PNNT) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. PennantPark Investment Corporation earned a coverage optimism score of 0.07 on Accern’s scale. Accern also gave news stories about the asset manager an impact score of 46.3530371502237 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
PennantPark Investment Corporation (NASDAQ PNNT) opened at 7.52 on Thursday. PennantPark Investment Corporation has a one year low of $6.86 and a one year high of $8.68. The company has a 50-day moving average price of $7.54 and a 200-day moving average price of $7.74.
PennantPark Investment Corporation (NASDAQ:PNNT) last posted its quarterly earnings data on Monday, August 7th. The asset manager reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $31.10 million for the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts anticipate that PennantPark Investment Corporation will post $0.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 9.57%. The ex-dividend date of this dividend is Tuesday, September 19th. PennantPark Investment Corporation’s payout ratio is 74.23%.
Several brokerages recently weighed in on PNNT. Zacks Investment Research lowered PennantPark Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. JMP Securities lowered PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. They noted that the move was a valuation call. BidaskClub raised PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Keefe, Bruyette & Woods set a $9.00 price objective on PennantPark Investment Corporation and gave the company a “hold” rating in a report on Monday, May 22nd. Finally, J P Morgan Chase & Co raised PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the company from $8.00 to $8.50 in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $8.25.
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In related news, Chairman Arthur H. Penn purchased 32,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average price of $7.72 per share, with a total value of $247,040.00. Following the completion of the acquisition, the chairman now directly owns 183,400 shares in the company, valued at approximately $1,415,848. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Arthur H. Penn purchased 28,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $7.62 per share, with a total value of $213,360.00. Following the acquisition, the chairman now owns 193,410 shares of the company’s stock, valued at $1,473,784.20. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
About PennantPark Investment Corporation
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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