Hennion & Walsh Asset Management Inc. Sells 13,192 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Hennion & Walsh Asset Management Inc. lowered its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 625,359 shares of the asset manager’s stock after selling 13,192 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in PennantPark Investment were worth $4,428,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PNNT. International Assets Investment Management LLC grew its stake in shares of PennantPark Investment by 599.0% in the third quarter. International Assets Investment Management LLC now owns 219,137 shares of the asset manager’s stock worth $1,532,000 after acquiring an additional 187,787 shares during the period. Truvestments Capital LLC grew its position in PennantPark Investment by 16.4% in the 3rd quarter. Truvestments Capital LLC now owns 361,893 shares of the asset manager’s stock worth $2,530,000 after purchasing an additional 50,907 shares during the period. Advisors Asset Management Inc. raised its stake in PennantPark Investment by 6.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 643,387 shares of the asset manager’s stock valued at $4,497,000 after buying an additional 40,487 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of PennantPark Investment during the 3rd quarter valued at $173,000. Finally, Sterneck Capital Management LLC boosted its stake in shares of PennantPark Investment by 44.0% in the 4th quarter. Sterneck Capital Management LLC now owns 67,932 shares of the asset manager’s stock worth $481,000 after buying an additional 20,770 shares during the last quarter. 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 PennantPark Investment from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

PennantPark Investment Stock Up 1.1 %

PNNT stock opened at $7.14 on Thursday. The stock has a market cap of $466.24 million, a P/E ratio of 42.00 and a beta of 1.47. PennantPark Investment Co. has a twelve month low of $6.43 and a twelve month high of $8.04. The business’s 50-day moving average price is $6.97 and its 200-day moving average price is $7.05. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.56.

PennantPark Investment Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.96 annualized dividend and a dividend yield of 13.45%. PennantPark Investment’s dividend payout ratio (DPR) is 564.74%.

About PennantPark Investment

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.