HighTower Advisors LLC Reduces Stock Position in PennantPark Investment Co. (NASDAQ:PNNT)

HighTower Advisors LLC trimmed its position in PennantPark Investment Co. (NASDAQ:PNNT) by 28.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,681 shares of the asset manager’s stock after selling 15,148 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of PennantPark Investment worth $267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PNNT. Sanctuary Advisors LLC bought a new stake in PennantPark Investment during the fourth quarter valued at $71,000. Verition Fund Management LLC purchased a new stake in shares of PennantPark Investment in the 3rd quarter valued at about $74,000. Crew Capital Management Ltd. bought a new stake in shares of PennantPark Investment during the 4th quarter valued at about $110,000. Strategic Financial Concepts LLC purchased a new position in shares of PennantPark Investment during the fourth quarter worth about $115,000. Finally, Sage Investment Counsel LLC bought a new position in shares of PennantPark Investment in the fourth quarter worth approximately $127,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Investment Trading Down 1.1 %

Shares of PennantPark Investment stock opened at $7.00 on Thursday. The firm has a market cap of $457.07 million, a PE ratio of 26.92 and a beta of 1.45. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. PennantPark Investment Co. has a 1 year low of $6.43 and a 1 year high of $8.04. The company has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $7.01.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 13.71%. The ex-dividend date of this dividend was Friday, March 14th. PennantPark Investment’s payout ratio is currently 369.23%.

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.