PennantPark Investment Corp. (PNNT) : Trust Asset Management reduced its stake in PennantPark Investment Corp. by 1.78% during the most recent quarter end. The investment management company now holds a total of 135,388 shares of PennantPark Investment Corp. which is valued at $1,042,488 after selling 2,460 shares in PennantPark Investment Corp. , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.PennantPark Investment Corp. makes up approximately 0.42% of Trust Asset Management’s portfolio.
Other Hedge Funds, Including ,
PennantPark Investment Corp. closed down -0.08 points or -1.03% at $7.7 with 4,69,538 shares getting traded on Tuesday. Post opening the session at $7.75, the shares hit an intraday low of $7.69 and an intraday high of $7.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, PennantPark Investment Corp. reported $0.25 EPS for the quarter, based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus estimate of $0.25. The company had revenue of $35.54 million for the quarter, compared to analysts expectations of $35.63 million. The company’s revenue was down -12.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.
Many Wall Street Analysts have commented on PennantPark Investment Corp.. Company shares were Reiterated by FBR Capital on Aug 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 8 from a previous price target of $7.50 .Shares were Downgraded by DA Davidson on Jul 27, 2016 to ” Neutral” and Lowered the Price Target to $ 7 from a previous price target of $10 .PennantPark Investment Corp. was Downgraded by JP Morgan to ” Neutral” on Jul 18, 2016.
PennantPark Investment Corporation (PennantPark Investment) is a business development company focused on generating 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 Company is a closed-end externally managed non-diversified investment company. It seeks to create a diversified portfolio that includes senior secured loans mezzanine debt and equity investments. The Companys portfolio of industries include aerospace and defense auto sector beverage food and tobacco business services cable television communications distribution education electronics grocery insurance logistics other media and retail stores. The Company has two wholly owned subsidiaries: SBIC LP and SBIC II. PennantPark Investment Advisers LLC acts as the investment adviser of the Company.