News stories about PennantPark Investment (NASDAQ:PNNT) have been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. 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 media sentiment score of 0.23 on Accern’s scale. Accern also assigned media stories about the asset manager an impact score of 47.2585130574364 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- PennantPark Investment Corporation (PNNT) price is down -10.08% off its 200-SMA – The Stocks News (press release) (thestocksnews.com)
- PennantPark Investment (PNNT) Cut to Buy at ValuEngine (americanbankingnews.com)
- PennantPark Investment (PNNT) Rating Increased to Hold at Zacks Investment Research (americanbankingnews.com)
- FibroGen, Inc. (FGEN) Forms $59.30 Double Top; Pennantpark … – Unwir News (unwir3d.com)
- Yield Went Up As Price Declined – Seeking Alpha (seekingalpha.com)
A number of equities analysts recently issued reports on PNNT shares. ValuEngine upgraded shares of PennantPark Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. TheStreet cut shares of PennantPark Investment from a “b-” rating to a “c” rating in a research report on Wednesday, December 13th. Jefferies Group reiterated a “hold” rating and set a $8.00 price objective on shares of PennantPark Investment in a research report on Sunday, November 5th. Zacks Investment Research upgraded shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.50 price objective on shares of PennantPark Investment in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.38.
PennantPark Investment (NASDAQ:PNNT) last announced its quarterly earnings results on Wednesday, November 29th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). PennantPark Investment had a net margin of 49.55% and a return on equity of 8.72%. The business had revenue of $27.87 million during the quarter, compared to analyst estimates of $29.19 million. During the same quarter last year, the company posted $0.21 earnings per share. The company’s revenue was down 13.3% compared to the same quarter last year. equities research analysts expect that PennantPark Investment will post 0.73 earnings per share for the current fiscal year.
In other news, Chairman Arthur H. Penn acquired 14,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was bought at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the completion of the transaction, the chairman now directly owns 193,410 shares in the company, valued at approximately $1,380,947.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aviv Efrat acquired 10,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $7.14 per share, with a total value of $71,400.00. Following the completion of the transaction, the chief financial officer now owns 106,102 shares of the company’s stock, valued at $757,568.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 48,000 shares of company stock valued at $344,280. 2.00% of the stock is currently owned by corporate insiders.
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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