PennantPark Investment Co. (NASDAQ:PNNT) Holdings Boosted by EMC Capital Management

EMC Capital Management lifted its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 58.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,789 shares of the asset manager’s stock after buying an additional 11,721 shares during the period. EMC Capital Management’s holdings in PennantPark Investment were worth $225,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PNNT. International Assets Investment Management LLC raised its position in PennantPark Investment by 599.0% during the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after acquiring an additional 187,787 shares in the last quarter. Grimes & Company Inc. acquired a new position in PennantPark Investment during the fourth quarter worth $443,000. Truvestments Capital LLC boosted its stake in shares of PennantPark Investment by 16.4% during the 3rd quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock worth $2,530,000 after acquiring an additional 50,907 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of PennantPark Investment by 6.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after acquiring an additional 40,487 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in PennantPark Investment during the third quarter worth approximately $173,000. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Stock Up 1.2 %

Shares of PNNT opened at $7.02 on Friday. PennantPark Investment Co. has a 12 month low of $6.43 and a 12 month high of $8.04. The stock has a market cap of $458.08 million, a price-to-earnings ratio of 7.53 and a beta of 1.47. The company has a 50-day moving average price of $6.96 and a two-hundred day moving average price of $6.99. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56.

PennantPark Investment Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.96 dividend on an annualized basis and a yield of 13.68%. PennantPark Investment’s dividend payout ratio (DPR) is presently 564.74%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

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.