Positive Press Coverage Somewhat Unlikely to Impact PennantPark Investment (PNNT) Share Price
Media stories about PennantPark Investment (NASDAQ:PNNT) have been trending positive on Sunday, Accern Sentiment Analysis reports. The research group identifies negative and positive press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. PennantPark Investment earned a news impact score of 0.28 on Accern’s scale. Accern also assigned media headlines about the asset manager an impact score of 47.2335848251453 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news stories that may have effected Accern Sentiment’s rankings:
- PennantPark Investment (PNNT) Upgraded at Ladenburg Thalmann Financial Services (americanbankingnews.com)
- PennantPark Investment (PNNT) Rating Increased to Sell at BidaskClub (americanbankingnews.com)
- PennantPark Investment’s (PNNT) CEO Art Penn on Q1 2018 Results – Earnings Call Transcript – Seeking Alpha (seekingalpha.com)
- PennantPark Investment (PNNT) Releases Earnings Results, Beats Expectations By $0.02 EPS (americanbankingnews.com)
- PennantPark Investment Corporation Announces Financial Results for the Quarter Ended December 31, 2017 – GlobeNewswire (press release) (globenewswire.com)
PNNT has been the topic of a number of recent analyst reports. ValuEngine raised shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. TheStreet lowered shares of PennantPark Investment from a “b-” rating to a “c” rating in a report on Wednesday, December 13th. Ladenburg Thalmann Financial Services raised shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Friday. Jefferies Group reissued a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment in a report on Sunday, November 5th. Finally, Zacks Investment Research raised shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. PennantPark Investment currently has a consensus rating of “Hold” and a consensus price target of $8.30.
PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, February 7th. The asset manager reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $28.67 million for the quarter, compared to analyst estimates of $28.12 million. PennantPark Investment had a net margin of 41.17% and a return on equity of 8.58%. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. sell-side analysts expect that PennantPark Investment will post 0.73 earnings per share for the current fiscal year.
In other PennantPark Investment news, Chairman Arthur H. Penn acquired 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were acquired at an average price of $7.10 per share, with a total value of $85,200.00. Following the completion of the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,373,211. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Arthur H. Penn acquired 14,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the purchase, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,380,947.40. The disclosure for this purchase can be found here. Insiders have bought a total of 48,000 shares of company stock worth $344,280 in the last ninety days. Insiders own 2.00% of the company’s stock.
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About PennantPark Investment
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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