Morgan Stanley Has $7.66 Million Stake in PennantPark Investment Corporation (NASDAQ:PNNT)

Morgan Stanley cut its position in shares of PennantPark Investment Corporation (NASDAQ:PNNT) by 21.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 940,545 shares of the asset manager’s stock after selling 261,222 shares during the period. Morgan Stanley owned about 1.32% of PennantPark Investment Corporation worth $7,655,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of PennantPark Investment Corporation by 50.1% in the first quarter. Global X Management Co. LLC now owns 16,664 shares of the asset manager’s stock worth $136,000 after buying an additional 5,563 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of PennantPark Investment Corporation by 43.8% in the first quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock worth $147,000 after buying an additional 5,600 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of PennantPark Investment Corporation by 10.0% in the first quarter. Legal & General Group Plc now owns 174,948 shares of the asset manager’s stock worth $1,421,000 after buying an additional 15,888 shares in the last quarter. Eagle Global Advisors LLC boosted its stake in shares of PennantPark Investment Corporation by 70.4% in the first quarter. Eagle Global Advisors LLC now owns 39,969 shares of the asset manager’s stock worth $325,000 after buying an additional 16,510 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of PennantPark Investment Corporation by 164.3% in the first quarter. Ameriprise Financial Inc. now owns 29,816 shares of the asset manager’s stock worth $243,000 after buying an additional 18,533 shares in the last quarter. Institutional investors own 43.81% of the company’s stock.

Shares of PennantPark Investment Corporation (NASDAQ PNNT) opened at 7.57 on Friday. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.80. PennantPark Investment Corporation has a 1-year low of $6.86 and a 1-year high of $8.68.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its earnings results on Monday, August 7th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. The company had revenue of $31.10 million during the quarter, compared to analyst estimates of $31.09 million. PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that PennantPark Investment Corporation will post $0.83 earnings per share for the current fiscal year.

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Several research firms have recently commented on PNNT. BidaskClub upgraded PennantPark Investment Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Wednesday, May 3rd. J P Morgan Chase & Co upgraded PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $8.50 in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 price target on PennantPark Investment Corporation and gave the stock a “hold” rating in a research note on Monday, May 22nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $8.00 price target on shares of PennantPark Investment Corporation in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. PennantPark Investment Corporation has an average rating of “Hold” and a consensus target price of $8.19.

In other PennantPark Investment Corporation news, Chairman Arthur H. Penn purchased 32,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $7.72 per share, for a total transaction of $247,040.00. Following the completion of the acquisition, the chairman now owns 183,400 shares of the company’s stock, valued at approximately $1,415,848. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Arthur H. Penn purchased 28,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $7.62 per share, for a total transaction of $213,360.00. Following the acquisition, the chairman now directly owns 193,410 shares of the company’s stock, valued at approximately $1,473,784.20. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

PennantPark Investment Corporation Company Profile

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

Institutional Ownership by Quarter for PennantPark Investment Corporation (NASDAQ:PNNT)

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