PennantPark Investment Co. (NASDAQ:PNNT) Stake Increased by Condor Capital Management

Condor Capital Management increased its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 81.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 519,177 shares of the asset manager’s stock after buying an additional 233,685 shares during the period. Condor Capital Management owned about 0.80% of PennantPark Investment worth $3,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Confluence Investment Management LLC bought a new stake in shares of PennantPark Investment in the first quarter worth $4,412,000. Hennion & Walsh Asset Management Inc. increased its stake in PennantPark Investment by 36.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 578,450 shares of the asset manager’s stock valued at $3,980,000 after purchasing an additional 154,594 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in PennantPark Investment during the first quarter valued at $648,000. Cetera Advisors LLC bought a new stake in PennantPark Investment during the first quarter valued at $748,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in PennantPark Investment by 128.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 25,581 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 14,392 shares during the last quarter. Institutional investors own 26.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PNNT. Compass Point upgraded shares of PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 target price for the company in a research note on Monday, September 9th. StockNews.com lowered shares of PennantPark Investment from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

PennantPark Investment Stock Up 1.3 %

PennantPark Investment stock opened at $7.02 on Friday. The company has a 50-day simple moving average of $7.15 and a 200-day simple moving average of $7.15. The firm has a market capitalization of $457.88 million, a P/E ratio of 7.63 and a beta of 1.52. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. PennantPark Investment Co. has a one year low of $6.01 and a one year high of $8.04.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.31 million. PennantPark Investment had a net margin of 30.24% and a return on equity of 12.29%. As a group, equities analysts expect that PennantPark Investment Co. will post 0.93 earnings per share for the current year.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 13.68%. The ex-dividend date is Monday, September 16th. PennantPark Investment’s payout ratio is currently 104.35%.

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.