Commonwealth Equity Services LLC Sells 32,551 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Commonwealth Equity Services LLC lessened its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 41.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,864 shares of the asset manager’s stock after selling 32,551 shares during the period. Commonwealth Equity Services LLC owned 0.07% of PennantPark Investment worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNNT. Cape Investment Advisory Inc. bought a new stake in PennantPark Investment during the fourth quarter worth about $67,000. Parallel Advisors LLC increased its stake in shares of PennantPark Investment by 20.0% in 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 last quarter. Tucker Asset Management LLC bought a new position in shares of PennantPark Investment in the 4th quarter valued at $90,000. Aigen Investment Management LP bought a new position in shares of PennantPark Investment in the 4th quarter valued at $101,000. Finally, Brookstone Capital Management bought a new position in shares of PennantPark Investment in the 2nd quarter valued at $105,000. 26.62% of the stock is owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

Shares of PNNT opened at $6.96 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $7.04 and a two-hundred day moving average price of $7.16. The firm has a market capitalization of $453.97 million, a P/E ratio of 7.57 and a beta of 1.52. PennantPark Investment Co. has a 52 week low of $6.01 and a 52 week high of $8.04.

PennantPark Investment (NASDAQ:PNNT) last announced its earnings results on Wednesday, August 7th. The asset manager reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. PennantPark Investment had a return on equity of 12.29% and a net margin of 30.24%. The firm had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.31 million. Equities analysts forecast that PennantPark Investment Co. will post 0.93 earnings per share for the current fiscal year.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.96 annualized dividend and a yield of 13.79%. PennantPark Investment’s payout ratio is 104.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNNT shares. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective on the stock in a report on Monday, September 9th. StockNews.com lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

PennantPark Investment Company 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.