PennantPark Investment Corporation (NASDAQ PNNT) traded down 0.64% on Friday, reaching $7.71.
TRADEMARK VIOLATION WARNING: "44,897 Shares in Gladstone Investment Corporation (NASDAQ:GAIN) Acquired by KCG Holdings Inc." was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. Following the completion of the transaction, the chief executive officer now owns 183,400 shares of the company's stock, valued at approximately $1,425,018.
PennantPark Investment Corporation (NASDAQ:PNNT) last released its earnings results on Monday, August 7th. The company's revenue for the quarter was down 12.4% on a year-over-year basis.
Research analysts at SunTrust Banks decreased their FY2017 earnings estimates for shares of PennantPark Investment Corporation in a research report issued on Tuesday. Finally, Wedbush initiated coverage on shares of Gladstone Investment Corporation in a report on Wednesday, June 14th. The firm's 50-day moving average price is $7.45 and its 200-day moving average price is $7.81. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & global copyright & trademark law. PennantPark Investment Corporation has a 52 week low of $6.86 and a 52 week high of $8.68. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The investment management company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.18 by $0.01. Gladstone Investment Corporation had a net margin of 55.52% and a return on equity of 6.95%.
The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. They presently have a $9.00 price target on the investment management company's stock. Jefferies Group also issued estimates for PennantPark Investment Corporation's Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.79 EPS. BidaskClub downgraded shares of Gladstone Investment Corporation from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 25th. The correct version of this article can be read at https://www.baseball-news-blog.com/2017/08/12/pennantpark-investment-corporation-pnnt-earns-daily-media-sentiment-rating-of-0-24-updated-updated-updated.html. During the same period a year ago, the business earned $0.25 earnings per share. Keefe, Bruyette & Woods set a $9.00 price target on shares of PennantPark Investment Corporation and gave the stock a "hold" rating in a research note on Saturday, June 24th. The business had revenue of $31.10 million for the quarter, compared to analysts' expectations of $31.09 million. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. J P Morgan Chase & Co upgraded shares of PennantPark Investment Corporation from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $8.00 to $8.50 in a research note on Wednesday.
Paradigm Asset Management Co Llc increased Pnc Fincl Svcs (NYSE:PNC) stake by 35,600 shares to 61,400 valued at $7.18 million in 2016Q4. Advisors Asset Management Inc sold 334,992 shares as Pennantpark Invt Corp (PNNT)'s stock declined 10.68%. They noted that the move was a valuation call.
Several equities analysts have recently issued reports on PNNT shares. Raymond James maintained it with "Outperform" rating and $219 target in Thursday, July 27 report. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. The stock was purchased at an average price of $7.72 per share, with a total value of $247,040.00. Following the acquisition, the chairman now directly owns 183,400 shares in the company, valued at approximately $1,415,848.
Paradigm Asset Management Co Llc decreased Marketaxess Holdings (MKTX) stake by 32.73% reported in 2016Q4 SEC filing. LLC now owns 16,664 shares of the asset manager's stock valued at $136,000 after buying an additional 5,563 shares during the period. Parametric Portfolio Associates LLC increased its stake in PennantPark Investment Corporation by 46.2% in the second quarter. About 97,497 shares traded. Insiders acquired a total of 109,000 shares of company stock valued at $844,010 over the last ninety days. Company insiders own 2.40% of the company's stock. The disclosure for this purchase can be found here. Van ECK Associates Corp now owns 280,855 shares of the investment management company's stock worth $2,640,000 after buying an additional 49,373 shares during the period. Private Advisor Group LLC raised its stake in PennantPark Investment Corporation by 0.6% in the second quarter.
PennantPark Investment Corporation is a closed-end, non-diversified investment company. Northern Trust Corp purchased a new stake in PennantPark Investment Corporation during the second quarter valued at about $302,000. The Company's investment objectives are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities, generally in combination with the aforementioned debt securities, of businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.