Price Action Report: After Today’s Huge Increase, Is PennantPark Investment Corp.’s Near-Term Analysis Positive?

Price Action Report: After Today's Huge Increase, Is PennantPark Investment Corp.'s Near Term Analysis Positive?

The stock of PennantPark Investment Corp. (NASDAQ:PNNT) is a huge mover today! About 387,055 shares traded hands or 5.39% up from the average. PennantPark Investment Corp. (NASDAQ:PNNT) has risen 30.10% since February 29, 2016 and is uptrending. It has outperformed by 17.89% the S&P500.
The move comes after 6 months positive chart setup for the $546.36M company. It was reported on Oct, 3 by We have $10.85 PT which if reached, will make NASDAQ:PNNT worth $218.54M more.

Analysts await PennantPark Investment Corp. (NASDAQ:PNNT) to report earnings on November, 8. They expect $0.25 earnings per share, down 7.41% or $0.02 from last year’s $0.27 per share. PNNT’s profit will be $17.62 million for 7.75 P/E if the $0.25 EPS becomes a reality. After $0.25 actual earnings per share reported by PennantPark Investment Corp. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

PennantPark Investment Corp. (NASDAQ:PNNT) Ratings Coverage

Out of 7 analysts covering Pennant Investment (NASDAQ:PNNT), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Pennant Investment has been the topic of 15 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Wednesday, July 27, the company rating was downgraded by DA Davidson. The rating was downgraded by Robert W. Baird on Monday, May 2 to “Neutral”. The rating was downgraded by JP Morgan to “Neutral” on Monday, July 18. The stock has “Buy” rating given by DA Davidson on Wednesday, September 30. The firm has “Market Outperform” rating by JMP Securities given on Wednesday, August 10. MLV maintained the stock with “Buy” rating in Thursday, August 6 report.

According to Zacks Investment Research, “PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of mezzanine debt, senior secured loans and equity investments. The companies in which it invests are typically highly leveraged, often as a result of leveraged buy-outs or other recapitalization transactions. PennantPark’s investment objectives are to generate both current income and capital appreciation through debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.22, from 1.1 in 2016Q1. The ratio dropped, as 17 funds sold all PennantPark Investment Corp. shares owned while 32 reduced positions. 12 funds bought stakes while 31 increased positions. They now own 21.22 million shares or 3.29% more from 20.54 million shares in 2016Q1.
Spot Trading Ltd Liability Corporation, a Illinois-based fund reported 4,390 shares. Trust Asset Mngmt Limited Liability holds 137,848 shares or 0.44% of its portfolio. Janney Montgomery Scott Lc holds 322,286 shares or 0.03% of its portfolio. The New York-based Clearbridge Invs Lc has invested 0% in PennantPark Investment Corp. (NASDAQ:PNNT). Winslow Evans Crocker last reported 1,000 shares in the company. Bessemer Gp accumulated 0% or 4,400 shares. Fifth Third National Bank & Trust owns 1,000 shares or 0% of their US portfolio. D E Shaw & Communications accumulated 0% or 22,402 shares. Manning Napier Advsr Ltd Limited Liability Company accumulated 70,410 shares or 0% of the stock. Nj State Employees Deferred Compensation Plan holds 0.1% or 66,710 shares in its portfolio. Arrowpoint Asset Limited Liability, a Colorado-based fund reported 339,524 shares. Edge Wealth Mgmt owns 91,099 shares or 0.26% of their US portfolio. Moreover, Sterneck Cap Lc has 0.77% invested in PennantPark Investment Corp. (NASDAQ:PNNT) for 168,800 shares. Hm Payson And accumulated 10,142 shares or 0% of the stock. The California-based Ares Management has invested 0.25% in PennantPark Investment Corp. (NASDAQ:PNNT).

More recent PennantPark Investment Corp. (NASDAQ:PNNT) news were published by: which released: “/quotes/zigman/3870025/realtime” on September 09, 2009. Also published the news titled: “How Low Can PennantPark Investment Corp. Go?” on September 27, 2015.‘s news article titled: “Why PennantPark Investment (PNNT) Stock Is Down Today” with publication date: September 05, 2014 was also an interesting one.

PNNT Company Profile

PennantPark Investment Corporation (PennantPark Investment), incorporated on January 11, 2007, is a business development firm focused to generate both income and capital appreciation through debt and equity investments in the United States middle-market companies in the form of senior secured loans, mezzanine debt and equity investments. The Firm is a closed-end, externally managed, non-diversified investment company. The Firm seeks to create a diversified portfolio that includes senior secured loans, mezzanine debt and equity investments.

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