Kovack Advisors Inc. Buys 3,700 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Kovack Advisors Inc. lifted its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,350 shares of the asset manager’s stock after acquiring an additional 3,700 shares during the quarter. Kovack Advisors Inc. owned about 0.06% of PennantPark Investment worth $284,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of PennantPark Investment by 6.0% during the 4th quarter. Signaturefd LLC now owns 33,045 shares of the asset manager’s stock worth $228,000 after acquiring an additional 1,859 shares in the last quarter. Parallel Advisors LLC boosted its stake in PennantPark Investment by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 12,519 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 2,087 shares during the period. Janney Montgomery Scott LLC boosted its stake in PennantPark Investment by 2.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 114,627 shares of the asset manager’s stock valued at $792,000 after purchasing an additional 3,126 shares during the period. Quadrature Capital Ltd boosted its stake in PennantPark Investment by 27.2% during the 3rd quarter. Quadrature Capital Ltd now owns 23,126 shares of the asset manager’s stock valued at $152,000 after purchasing an additional 4,940 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in PennantPark Investment during the 4th quarter valued at approximately $52,000. Institutional investors own 26.62% of the company’s stock.

PennantPark Investment Trading Up 0.7 %

PennantPark Investment stock opened at $7.67 on Friday. The business has a 50 day moving average price of $7.42 and a two-hundred day moving average price of $7.06. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.40. The stock has a market cap of $500.24 million, a price-to-earnings ratio of 7.30 and a beta of 1.52. PennantPark Investment Co. has a 12 month low of $5.89 and a 12 month high of $7.77.

PennantPark Investment (NASDAQ:PNNT) last issued its earnings results on Wednesday, May 8th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). PennantPark Investment had a return on equity of 13.65% and a net margin of 40.14%. The company had revenue of $35.98 million during the quarter, compared to analyst estimates of $36.22 million. As a group, equities analysts forecast that PennantPark Investment Co. will post 0.92 EPS for the current year.

PennantPark Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.52%. PennantPark Investment’s payout ratio is presently 104.35%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Raymond James downgraded PennantPark Investment from an “outperform” rating to a “market perform” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods upgraded PennantPark Investment to a “hold” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.94.

PennantPark Investment 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.