Kovack Advisors Inc. Buys 2,000 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Kovack Advisors Inc. lifted its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,350 shares of the asset manager’s stock after purchasing an additional 2,000 shares during the quarter. Kovack Advisors Inc. owned 0.07% of PennantPark Investment worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PNNT. Confluence Investment Management LLC boosted its stake in shares of PennantPark Investment by 0.9% during the third quarter. Confluence Investment Management LLC now owns 302,530 shares of the asset manager’s stock valued at $2,115,000 after purchasing an additional 2,563 shares in the last quarter. EMC Capital Management boosted its position in PennantPark Investment by 10.5% during the 1st quarter. EMC Capital Management now owns 31,789 shares of the asset manager’s stock worth $219,000 after buying an additional 3,014 shares during the period. CANADA LIFE ASSURANCE Co increased its position in PennantPark Investment by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 60,529 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 3,402 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in shares of PennantPark Investment by 1.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 240,200 shares of the asset manager’s stock valued at $1,679,000 after acquiring an additional 3,744 shares during the last quarter. Finally, Garner Asset Management Corp lifted its holdings in shares of PennantPark Investment by 9.9% during the second quarter. Garner Asset Management Corp now owns 106,614 shares of the asset manager’s stock worth $805,000 after purchasing an additional 9,610 shares during the period. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Trading Up 0.6 %

PNNT opened at $6.92 on Friday. The stock has a market cap of $451.88 million, a PE ratio of 10.49 and a beta of 1.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.54. PennantPark Investment Co. has a twelve month low of $6.31 and a twelve month high of $8.04. The company has a fifty day moving average of $6.96 and a 200-day moving average of $7.18.

PennantPark Investment Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 13.87%. The ex-dividend date is Friday, November 15th. PennantPark Investment’s dividend payout ratio (DPR) is presently 145.46%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PNNT shares. StockNews.com lowered PennantPark Investment from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Compass Point upgraded PennantPark Investment from a “sell” rating to a “neutral” rating and set a $6.00 price objective for the company in a research report on Monday, September 9th.

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.