Catalina Capital Group LLC Reduces Stock Position in PennantPark Investment Co. (NASDAQ:PNNT)

Catalina Capital Group LLC lowered its stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,579 shares of the asset manager’s stock after selling 2,853 shares during the period. Catalina Capital Group LLC’s holdings in PennantPark Investment were worth $95,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP increased its holdings in shares of PennantPark Investment by 10.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,318,818 shares of the asset manager’s stock worth $9,337,000 after purchasing an additional 127,100 shares during the period. Two Sigma Investments LP increased its holdings in shares of PennantPark Investment by 24.2% in the fourth quarter. Two Sigma Investments LP now owns 914,375 shares of the asset manager’s stock worth $6,474,000 after purchasing an additional 178,423 shares during the period. Millennium Management LLC bought a new position in shares of PennantPark Investment in the fourth quarter worth $3,097,000. Truvestments Capital LLC increased its holdings in shares of PennantPark Investment by 5.8% in the fourth quarter. Truvestments Capital LLC now owns 382,800 shares of the asset manager’s stock worth $2,710,000 after purchasing an additional 20,907 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PennantPark Investment in the fourth quarter worth $2,470,000. Hedge funds and other institutional investors own 26.62% of the company’s stock.

Insider Activity at PennantPark Investment

In related news, Director Jose A. Briones acquired 3,640 shares of PennantPark Investment stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $6.88 per share, with a total value of $25,043.20. Following the completion of the purchase, the director now owns 268,972 shares of the company’s stock, valued at $1,850,527.36. This represents a 1.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNNT. LADENBURG THALM/SH SH raised shares of PennantPark Investment to a “hold” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their price target on shares of PennantPark Investment from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Compass Point reaffirmed a “sell” rating and issued a $5.75 price target (down previously from $6.00) on shares of PennantPark Investment in a report on Wednesday, May 21st. Finally, Wall Street Zen raised PennantPark Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th.

PennantPark Investment Stock Up 1.1%

PNNT opened at $6.73 on Friday. The stock has a market cap of $439.12 million, a PE ratio of 25.87 and a beta of 1.01. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. PennantPark Investment Co. has a 52 week low of $5.72 and a 52 week high of $8.04. The business’s fifty day simple moving average is $6.59 and its 200 day simple moving average is $6.85.

PennantPark Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 14.28%. PennantPark Investment’s dividend payout ratio is presently 640.00%.

PennantPark Investment 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.