LADENBURG THALM/SH SH lowered shares of PennantPark Investment (NASDAQ:PNNT) from a buy rating to a neutral rating in a research note released on Monday morning, The Fly reports.

PNNT has been the topic of a number of other reports. BidaskClub lowered shares of PennantPark Investment from a buy rating to a hold rating in a research note on Friday, April 5th. Zacks Investment Research downgraded PennantPark Investment from a hold rating to a sell rating in a research report on Thursday, April 11th. Raymond James started coverage on PennantPark Investment in a research report on Monday, April 29th. They set an outperform rating and a $8.00 price objective for the company. Compass Point downgraded PennantPark Investment from a buy rating to a neutral rating and lowered their price objective for the stock from $8.50 to $7.00 in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. downgraded PennantPark Investment from an overweight rating to a neutral rating and lowered their price objective for the stock from $7.50 to $7.00 in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. PennantPark Investment has a consensus rating of Hold and an average target price of $7.60.

Shares of NASDAQ:PNNT opened at $6.57 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $439.14 million, a price-to-earnings ratio of 8.76 and a beta of 1.21. PennantPark Investment has a 1 year low of $6.21 and a 1 year high of $7.84.

PennantPark Investment (NASDAQ:PNNT) last issued its quarterly earnings results on Thursday, May 9th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The business had revenue of $28.69 million for the quarter, compared to analysts’ expectations of $28.89 million. PennantPark Investment had a return on equity of 7.94% and a net margin of 28.97%. Analysts anticipate that PennantPark Investment will post 0.74 EPS for the current fiscal year.

In other PennantPark Investment news, Chairman Arthur H. Penn purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $6.58 per share, with a total value of $98,700.00. Following the completion of the acquisition, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,272,637.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Arthur H. Penn purchased 16,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $6.52 per share, with a total value of $104,320.00. Following the completion of the acquisition, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,261,033.20. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. RHS Financial LLC acquired a new position in PennantPark Investment in the fourth quarter valued at approximately $253,000. JPMorgan Chase & Co. boosted its holdings in PennantPark Investment by 12.7% in the third quarter. JPMorgan Chase & Co. now owns 3,153,357 shares of the asset manager’s stock valued at $23,524,000 after purchasing an additional 355,736 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in PennantPark Investment in the fourth quarter valued at approximately $86,000. GSA Capital Partners LLP boosted its holdings in PennantPark Investment by 5.8% in the fourth quarter. GSA Capital Partners LLP now owns 77,154 shares of the asset manager’s stock valued at $491,000 after purchasing an additional 4,205 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. boosted its holdings in PennantPark Investment by 0.7% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 194,082 shares of the asset manager’s stock valued at $1,236,000 after purchasing an additional 1,425 shares in the last quarter. 44.97% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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