LADENBURG THALM/SH SH Downgrades PennantPark Investment (NASDAQ:PNNT) to Neutral

LADENBURG THALM/SH SH downgraded shares of PennantPark Investment (NASDAQ:PNNT) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat.com reports.

Other analysts have also recently issued reports about the company. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective on the stock in a report on Monday, September 9th. StockNews.com lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

PennantPark Investment Trading Up 0.3 %

Shares of PNNT stock opened at $6.77 on Wednesday. The stock’s 50-day moving average price is $6.94 and its 200-day moving average price is $7.16. PennantPark Investment has a 12-month low of $6.31 and a 12-month high of $8.04. The stock has a market capitalization of $442.08 million, a price-to-earnings ratio of 39.83 and a beta of 1.52. The company has a current ratio of 0.51, a quick ratio of 0.90 and a debt-to-equity ratio of 1.56.

PennantPark Investment Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.96 annualized dividend and a yield of 14.18%. PennantPark Investment’s payout ratio is 564.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co boosted its holdings in PennantPark Investment by 6.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 3,402 shares during the period. EMC Capital Management lifted its holdings in PennantPark Investment by 10.5% during the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $219,000 after buying an additional 3,014 shares in the last quarter. Cetera Advisors LLC bought a new position in PennantPark Investment in the 1st quarter worth about $748,000. Brookstone Capital Management bought a new position in PennantPark Investment in the 2nd quarter worth about $105,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of PennantPark Investment by 14.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 661,933 shares of the asset manager’s stock worth $4,998,000 after acquiring an additional 83,483 shares during the period. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Company Profile

PennantPark Investment Corporation, a business development company is a private equity fund 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 buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.