Key Points
- Jeffrey Flug, a PennantPark director, sold 23,303 shares on Dec. 4 at an average price of $5.78 for $134,691 and has sold roughly 94,403 shares in recent trades (Nov. 26–Dec. 4), leaving him with 173,915 shares valued at about $1.005M (an ~11.8% ownership reduction).
- PennantPark declared a $0.08 monthly dividend (ex-dividend date Dec. 15, payable Jan. 2), which implies a 16.4% yield and reflects a reported 192% payout ratio.
- The stock trades near $5.84 with a market cap of ~$381M, and analysts carry an average rating of "Hold" with an average target of $5.88 after several recent target cuts.
PennantPark Investment Co. (NASDAQ:PNNT - Get Free Report) Director Jeffrey Flug sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.75, for a total transaction of $57,500.00. Following the completion of the sale, the director directly owned 197,218 shares in the company, valued at $1,134,003.50. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Jeffrey Flug also recently made the following trade(s):
- On Thursday, December 4th, Jeffrey Flug sold 23,303 shares of PennantPark Investment stock. The stock was sold at an average price of $5.78, for a total transaction of $134,691.34.
- On Monday, December 1st, Jeffrey Flug sold 21,100 shares of PennantPark Investment stock. The shares were sold at an average price of $6.04, for a total transaction of $127,444.00.
- On Friday, November 28th, Jeffrey Flug sold 15,000 shares of PennantPark Investment stock. The stock was sold at an average price of $6.06, for a total value of $90,900.00.
- On Wednesday, November 26th, Jeffrey Flug sold 25,000 shares of PennantPark Investment stock. The shares were sold at an average price of $6.03, for a total value of $150,750.00.
PennantPark Investment Price Performance
PNNT stock opened at $5.84 on Friday. The company has a market cap of $381.13 million, a PE ratio of 22.45 and a beta of 0.62. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $6.38 and a two-hundred day moving average price of $6.78. PennantPark Investment Co. has a 12-month low of $5.66 and a 12-month high of $7.53.
PennantPark Investment Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a yield of 16.4%. PennantPark Investment's dividend payout ratio (DPR) is presently 192.00%.
Wall Street Analyst Weigh In
PNNT has been the subject of several research reports. Truist Financial decreased their price objective on shares of PennantPark Investment from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, November 26th. Keefe, Bruyette & Woods lowered their price objective on shares of PennantPark Investment from $6.25 to $5.50 and set an "underperform" rating for the company in a research report on Wednesday, November 26th. Compass Point raised shares of PennantPark Investment from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $5.75 to $5.50 in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of PennantPark Investment from $6.50 to $5.50 and set a "neutral" rating for the company in a research note on Wednesday, November 26th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.88.
View Our Latest Research Report on PennantPark Investment
Hedge Funds Weigh In On PennantPark Investment
Institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC grew its position in shares of PennantPark Investment by 55.8% during the first quarter. Truvestments Capital LLC now owns 596,573 shares of the asset manager's stock worth $4,194,000 after buying an additional 213,773 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in PennantPark Investment by 493.1% in the third quarter. Sunbelt Securities Inc. now owns 104,245 shares of the asset manager's stock valued at $699,000 after acquiring an additional 86,668 shares in the last quarter. UBS Group AG boosted its stake in PennantPark Investment by 35.8% during the 3rd quarter. UBS Group AG now owns 209,725 shares of the asset manager's stock valued at $1,407,000 after acquiring an additional 55,331 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in PennantPark Investment during the 2nd quarter valued at $330,000. Finally, Caxton Associates LLP acquired a new position in PennantPark Investment during the 1st quarter worth $339,000. 26.62% of the stock is owned by institutional investors and hedge funds.
PennantPark Investment Company Profile
(
Get Free Report)
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.
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