LADENBURG THALM/SH SH Downgrades PennantPark Investment (NASDAQ:PNNT) to Neutral

PennantPark Investment (NASDAQ:PNNT) was downgraded by stock analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of PennantPark Investment from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Compass Point raised PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 target price for the company in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $6.75 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock has a market cap of $440.75 million, a PE ratio of 10.23 and a beta of 1.52. The stock’s fifty day simple moving average is $6.95 and its two-hundred day simple moving average is $7.17. PennantPark Investment has a 1-year low of $6.31 and a 1-year high of $8.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Verition Fund Management LLC bought a new stake in shares of PennantPark Investment in the 3rd quarter worth approximately $74,000. Brookstone Capital Management purchased a new position in shares of PennantPark Investment during the 2nd quarter valued at $105,000. Quantbot Technologies LP purchased a new stake in PennantPark Investment in the 3rd quarter worth about $133,000. Paloma Partners Management Co purchased a new stake in PennantPark Investment in the 3rd quarter worth about $173,000. Finally, EMC Capital Management lifted its holdings in PennantPark Investment by 10.5% during the first quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 3,014 shares during the last quarter. 26.62% of the stock is owned by institutional investors.

About PennantPark Investment

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.