PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its position in PennantPark Investment Co. (NASDAQ:PNNT) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,287 shares of the asset manager’s stock after selling 15,064 shares during the period. Global Retirement Partners LLC’s holdings in PennantPark Investment were worth $186,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in PennantPark Investment by 599.0% during 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 acquiring an additional 187,787 shares in the last quarter. Grimes & Company Inc. acquired a new position in PennantPark Investment during the fourth quarter worth $443,000. Strategic Financial Concepts LLC purchased a new stake in shares of PennantPark Investment in the 4th quarter valued at $115,000. Janney Montgomery Scott LLC boosted its stake in shares of PennantPark Investment by 12.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 130,907 shares of the asset manager’s stock valued at $927,000 after purchasing an additional 14,124 shares during the period. Finally, Verition Fund Management LLC purchased a new position in PennantPark Investment in the third quarter valued at $74,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT opened at $7.14 on Wednesday. The company has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $6.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $465.95 million, a price-to-earnings ratio of 27.45 and a beta of 1.47. PennantPark Investment Co. has a one year low of $6.43 and a one year high of $8.04.

PennantPark Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 13.45%. The ex-dividend date is Tuesday, February 18th. PennantPark Investment’s dividend payout ratio (DPR) is presently 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.