Raymond James Financial Inc. Makes New $632,000 Investment in PennantPark Investment Co. (NASDAQ:PNNT)

Raymond James Financial Inc. purchased a new stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 89,230 shares of the asset manager’s stock, valued at approximately $632,000.

Other large investors have also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in PennantPark Investment during the 4th quarter valued at about $71,000. Grimes & Company Inc. bought a new stake in shares of PennantPark Investment during the fourth quarter valued at approximately $443,000. Strategic Financial Concepts LLC purchased a new position in PennantPark Investment in the 4th quarter worth approximately $115,000. Janney Montgomery Scott LLC lifted its position in PennantPark Investment by 12.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager’s stock valued at $927,000 after acquiring an additional 14,124 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in PennantPark Investment during the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Stock Down 8.3 %

PNNT stock opened at $6.44 on Monday. The stock has a market capitalization of $420.18 million, a P/E ratio of 24.75 and a beta of 1.09. 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 $6.42 and a 1-year high of $8.04. The business has a fifty day moving average price of $7.09 and a 200-day moving average price of $7.00.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 14.92%. The ex-dividend date is Tuesday, April 15th. PennantPark Investment’s dividend payout ratio (DPR) is 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.