PennantPark Investment (PNNT) Stock Rating Upgraded by BidaskClub

PennantPark Investment (NASDAQ:PNNT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also issued reports on PNNT. ValuEngine lowered shares of PennantPark Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of PennantPark Investment from a “strong sell” rating to a “hold” rating in a report on Saturday, February 3rd. Ladenburg Thalmann upgraded shares of PennantPark Investment from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Friday, February 9th. Finally, TheStreet upgraded shares of PennantPark Investment from a “c” rating to a “b-” rating in a report on Thursday, March 29th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.21.

PennantPark Investment opened at $7.28 on Thursday, Marketbeat.com reports. PennantPark Investment has a 52 week low of $6.29 and a 52 week high of $7.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 6.66 and a quick ratio of 6.66. The firm has a market cap of $515.19 million, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 4.88 and a beta of 1.12.

PennantPark Investment (NASDAQ:PNNT) last released its quarterly earnings data on Wednesday, May 9th. The asset manager reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. PennantPark Investment had a net margin of 38.78% and a return on equity of 8.17%. The business had revenue of $27.23 million during the quarter, compared to analyst estimates of $27.23 million. research analysts anticipate that PennantPark Investment will post 0.74 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in PNNT. California Public Employees Retirement System lifted its holdings in shares of PennantPark Investment by 29.6% in the 3rd quarter. California Public Employees Retirement System now owns 54,700 shares of the asset manager’s stock worth $411,000 after acquiring an additional 12,500 shares during the last quarter. Taylor Frigon Capital Management LLC bought a new stake in shares of PennantPark Investment in the 4th quarter worth about $921,000. Eqis Capital Management Inc. bought a new stake in shares of PennantPark Investment in the 4th quarter worth about $143,000. Garner Asset Management Corp lifted its holdings in shares of PennantPark Investment by 10.7% in the 4th quarter. Garner Asset Management Corp now owns 81,477 shares of the asset manager’s stock worth $563,000 after acquiring an additional 7,879 shares during the last quarter. Finally, Dean Capital Investments Management LLC purchased a new position in PennantPark Investment in the 4th quarter worth about $193,000. Hedge funds and other institutional investors own 44.76% of the company’s stock.

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.

Analyst Recommendations for PennantPark Investment (NASDAQ:PNNT)

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