JPMorgan Chase & Co. Sells 17,185 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

JPMorgan Chase & Co. trimmed its position in PennantPark Investment Co. (NASDAQ:PNNT) by 52.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,548 shares of the asset manager’s stock after selling 17,185 shares during the period. JPMorgan Chase & Co.’s holdings in PennantPark Investment were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNNT. Verition Fund Management LLC acquired a new position in PennantPark Investment during the third quarter valued at approximately $74,000. Quantbot Technologies LP bought a new stake in PennantPark Investment in the 3rd quarter valued at $133,000. Paloma Partners Management Co acquired a new stake in shares of PennantPark Investment during the 3rd quarter worth about $173,000. Kovack Advisors Inc. boosted its holdings in shares of PennantPark Investment by 4.6% during the third quarter. Kovack Advisors Inc. now owns 45,350 shares of the asset manager’s stock worth $317,000 after acquiring an additional 2,000 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in PennantPark Investment by 599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock valued at $1,532,000 after purchasing an additional 187,787 shares during the period. Institutional investors and hedge funds own 26.62% of the company’s stock.

PennantPark Investment Trading Up 1.3 %

PNNT opened at $7.11 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56. The stock has a market cap of $464.28 million, a PE ratio of 41.83 and a beta of 1.47. The company has a fifty day moving average of $6.96 and a 200-day moving average of $6.98. PennantPark Investment Co. has a twelve month low of $6.43 and a twelve month high of $8.04.

PennantPark Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.96 annualized dividend and a dividend yield of 13.50%. PennantPark Investment’s dividend payout ratio is presently 564.74%.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

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.