PennantPark Investment Co. (NASDAQ:PNNT) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. increased its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,050 shares of the asset manager’s stock after acquiring an additional 11,700 shares during the quarter. Kovack Advisors Inc. owned approximately 0.09% of PennantPark Investment worth $404,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Wealth LLC boosted its stake in PennantPark Investment by 1.2% in the 4th quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager’s stock worth $2,030,000 after buying an additional 3,470 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of PennantPark Investment during the 4th quarter worth about $71,000. Strategic Financial Concepts LLC acquired a new stake in shares of PennantPark Investment in the fourth quarter worth approximately $115,000. EMC Capital Management grew its holdings in PennantPark Investment by 58.4% in the fourth quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 11,721 shares during the period. Finally, Grimes & Company Inc. purchased a new stake in PennantPark Investment in the fourth quarter valued at approximately $443,000. 26.62% of the stock is owned by hedge funds and other institutional investors.

PennantPark Investment Stock Performance

Shares of PNNT opened at $7.26 on Friday. The stock has a market capitalization of $473.72 million, a PE ratio of 27.90 and a beta of 1.47. The business’s fifty day moving average price is $7.08 and its 200 day moving average price is $6.99. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. PennantPark Investment Co. has a 12-month low of $6.43 and a 12-month high of $8.04.

PennantPark Investment Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.96 dividend on an annualized basis and a yield of 13.23%. PennantPark Investment’s payout ratio is currently 369.23%.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH lowered PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

About PennantPark Investment

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.