Stifel Financial Corp Has $315,000 Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

Stifel Financial Corp cut its holdings in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 69.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,099 shares of the asset manager’s stock after selling 103,693 shares during the quarter. Stifel Financial Corp owned 0.07% of PennantPark Investment worth $315,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNNT. Verition Fund Management LLC acquired a new position in PennantPark Investment during the third quarter valued at approximately $74,000. Quantbot Technologies LP acquired a new position in shares of PennantPark Investment during the 3rd quarter worth $133,000. Paloma Partners Management Co bought a new stake in shares of PennantPark Investment during the 3rd quarter worth $173,000. Kovack Advisors Inc. boosted its stake in PennantPark Investment by 4.6% in the third quarter. Kovack Advisors Inc. now owns 45,350 shares of the asset manager’s stock valued at $317,000 after buying an additional 2,000 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its position in PennantPark Investment by 28.0% in the second quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 10,339 shares during the last quarter. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

Shares of PennantPark Investment stock opened at $6.99 on Friday. The business has a 50-day simple moving average of $6.91 and a 200 day simple moving average of $7.08. PennantPark Investment Co. has a one year low of $6.43 and a one year high of $8.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $456.42 million, a price-to-earnings ratio of 41.12 and a beta of 1.49.

PennantPark Investment Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 13.73%. The ex-dividend date of this dividend is Monday, December 16th. PennantPark Investment’s dividend payout ratio is currently 564.71%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PNNT shares. LADENBURG THALM/SH SH downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 27th. Compass Point upgraded PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price target for the company in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, PennantPark Investment currently has a consensus rating of “Hold” and an average target price of $6.00.

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.