LPL Financial LLC Has $129,000 Holdings in PennantPark Investment Co. (NASDAQ:PNNT)

LPL Financial LLC decreased its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 36.6% in the 4th quarter, HoldingsChannel reports. The firm owned 18,218 shares of the asset manager’s stock after selling 10,530 shares during the quarter. LPL Financial LLC’s holdings in PennantPark Investment were worth $129,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of PennantPark Investment during the 4th quarter worth approximately $71,000. Virtu Financial LLC acquired a new stake in shares of PennantPark Investment in the 4th quarter valued at $95,000. Crew Capital Management Ltd. bought a new position in shares of PennantPark Investment in the 4th quarter valued at $110,000. Strategic Financial Concepts LLC acquired a new position in shares of PennantPark Investment during the 4th quarter worth $115,000. Finally, Sage Investment Counsel LLC bought a new stake in shares of PennantPark Investment during the 4th quarter worth $127,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered their target price on PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, PennantPark Investment has an average rating of “Hold” and a consensus price target of $6.00.

PennantPark Investment Stock Performance

NASDAQ PNNT opened at $6.52 on Thursday. PennantPark Investment Co. has a fifty-two week low of $5.72 and a fifty-two week high of $8.04. The stock has a market cap of $425.73 million, a PE ratio of 25.08 and a beta of 1.09. 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 firm’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $6.91.

PennantPark Investment Dividend Announcement

The company 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. The ex-dividend date is Tuesday, April 15th. This represents a $0.96 annualized dividend and a yield of 14.72%. PennantPark Investment’s dividend payout ratio 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.