PennantPark Investment (NASDAQ:PNNT) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

PennantPark Investment Co. (NASDAQ:PNNT)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.00 and traded as high as $7.11. PennantPark Investment shares last traded at $7.08, with a volume of 353,550 shares.

Analyst Ratings Changes

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

PennantPark Investment Stock Up 0.2 %

The company has a market cap of $464.58 million, a PE ratio of 27.37 and a beta of 1.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The firm’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $7.00.

PennantPark Investment Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 13.49%. The ex-dividend date is Friday, March 14th. PennantPark Investment’s payout ratio is 369.23%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Millennium Management LLC acquired a new position in PennantPark Investment during the 4th quarter valued at about $3,097,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of PennantPark Investment in the 4th quarter worth approximately $2,470,000. Two Sigma Investments LP grew its stake in shares of PennantPark Investment by 24.2% in the 4th quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager’s stock worth $6,474,000 after purchasing an additional 178,423 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of PennantPark Investment by 10.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,318,818 shares of the asset manager’s stock worth $9,337,000 after purchasing an additional 127,100 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of PennantPark Investment in the 4th quarter worth approximately $632,000. 26.62% of the stock is currently owned by institutional investors.

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.