PennantPark Investment (PNNT) Set to Announce Earnings on Wednesday

Posted by Defense World Staff on May 3rd, 2023

PennantPark Investment (NASDAQ:PNNT – Get Rating) is set to release its earnings data after the market closes on Wednesday, May 10th. Analysts expect PennantPark Investment to post earnings of $0.20 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

PennantPark Investment (NASDAQ:PNNT – Get Rating) last released its earnings results on Wednesday, February 8th. The asset manager reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). PennantPark Investment had a negative net margin of 114.60% and a positive return on equity of 7.00%. The firm had revenue of $29.96 million during the quarter, compared to the consensus estimate of $30.30 million. On average, analysts expect PennantPark Investment to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PennantPark Investment Trading Down 2.6 %

PNNT stock opened at $4.89 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.37 and a quick ratio of 1.37. The company has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.68. PennantPark Investment has a one year low of $4.70 and a one year high of $7.62. The stock has a market cap of $318.95 million, a price-to-earnings ratio of -2.64 and a beta of 1.57.

PennantPark Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Thursday, March 16th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 15.13%. This is a boost from PennantPark Investment’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, March 15th. PennantPark Investment’s payout ratio is -40.00%.

Analyst Ratings Changes

A number of research firms have commented on PNNT. Truist Financial reduced their price objective on shares of PennantPark Investment from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, February 13th. Keefe, Bruyette & Woods cut shares of PennantPark Investment from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $7.00 to $5.50 in a research report on Thursday, February 9th. Finally, StockNews.com assumed coverage on shares of PennantPark Investment in a research report on Thursday, March 16th. They set a “hold” rating for the company.

Insider Transactions at PennantPark Investment

In other news, CEO Arthur H. Penn bought 30,000 shares of the company’s stock in a transaction dated Friday, February 10th. The stock was bought at an average price of $5.61 per share, with a total value of $168,300.00. Following the completion of the acquisition, the chief executive officer now owns 968,423 shares of the company’s stock, valued at $5,432,853.03. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. raised its stake in PennantPark Investment by 19.0% in the fourth quarter. Eqis Capital Management Inc. now owns 37,065 shares of the asset manager’s stock valued at $213,000 after purchasing an additional 5,922 shares in the last quarter. LPL Financial LLC raised its stake in PennantPark Investment by 55.1% in the second quarter. LPL Financial LLC now owns 33,532 shares of the asset manager’s stock valued at $207,000 after purchasing an additional 11,908 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in PennantPark Investment by 100.0% in the fourth quarter. United Capital Financial Advisers LLC now owns 30,000 shares of the asset manager’s stock valued at $172,000 after purchasing an additional 15,000 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in PennantPark Investment in the second quarter valued at about $169,000. Finally, Cresset Asset Management LLC acquired a new position in PennantPark Investment in the first quarter valued at about $152,000. Institutional investors and hedge funds own 34.33% of the company’s stock.

PennantPark Investment Company Profile

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PennantPark Investment Corporation is a publicly listed business development firm specializing in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The firm invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans, and senior secured loans.