Media coverage about PennantPark Investment (NASDAQ:PNNT) has been trending somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PennantPark Investment earned a news impact score of 0.15 on Accern’s scale. Accern also assigned media stories about the asset manager an impact score of 45.5581016444312 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
PennantPark Investment (NASDAQ PNNT) traded up $0.11 during trading on Friday, hitting $6.96. The stock had a trading volume of 337,100 shares, compared to its average volume of 415,987. PennantPark Investment has a 1-year low of $6.67 and a 1-year high of $8.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $498.14, a price-to-earnings ratio of 8.00, a P/E/G ratio of 4.82 and a beta of 1.27.
PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings data on Wednesday, November 29th. The asset manager reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). PennantPark Investment had a return on equity of 8.72% and a net margin of 49.55%. The company had revenue of $27.87 million for the quarter, compared to analysts’ expectations of $29.19 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue was down 13.3% compared to the same quarter last year. equities research analysts expect that PennantPark Investment will post 0.73 EPS for the current year.
A number of analysts have issued reports on PNNT shares. Zacks Investment Research lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine raised PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. TheStreet lowered PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment in a research report on Sunday, November 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.38.
In related news, Chairman Arthur H. Penn acquired 14,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were acquired at an average price of $7.14 per share, with a total value of $99,960.00. Following the completion of the transaction, the chairman now owns 193,410 shares of the company’s stock, valued at $1,380,947.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Arthur H. Penn bought 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was acquired at an average cost of $7.10 per share, for a total transaction of $85,200.00. Following the acquisition, the chairman now directly owns 193,410 shares of the company’s stock, valued at $1,373,211. The disclosure for this purchase can be found here. Insiders have bought 48,000 shares of company stock worth $344,280 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.
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About PennantPark Investment
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
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