Noteworthy Rating Filing: FBR & Co. Gives Pennant Investment (NASDAQ:PNNT) Lower Rating. The Target Price is $8

November 23, 2016 - By Peter Kolinski

Noteworthy Rating Filing:  FBR & Co. Gives Pennant Investment (NASDAQ:PNNT) Lower Rating. The Target Price is $8

Pennant Investment (NASDAQ:PNNT) Downgrade

Pennant Investment (NASDAQ:PNNT) was lowered by FBR & Co. from Outperform rating to Mkt Perform rating in analysts note issued to clients on Wednesday morning. The firm currently has a $8 PT on the stock. FBR & Co.’s PT indicates a potential upside of 10.34% from the stock’s last stock close price.

PennantPark Investment Corp. (NASDAQ:PNNT) Ratings Coverage

Out of 8 analysts covering Pennant Investment (NASDAQ:PNNT), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $10 is the highest target while $6.50 is the lowest. The $7.89 average target is 8.83% above today’s ($7.25) stock price. Pennant Investment has been the topic of 16 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Ladenburg Thalmann upgraded PennantPark Investment Corp. (NASDAQ:PNNT) on Tuesday, November 22 to “Buy” rating. DA Davidson downgraded the stock to “Neutral” rating in Wednesday, July 27 report. Robert W. Baird downgraded the shares of PNNT in a report on Monday, May 2 to “Neutral” rating. The rating was initiated by DA Davidson on Wednesday, September 30 with “Buy”. The stock has “Buy” rating given by MLV on Thursday, August 6. The firm earned “Market Outperform” rating on Wednesday, August 10 by JMP Securities. JP Morgan downgraded the stock to “Neutral” rating in Monday, July 18 report.

The stock decreased 5.72% or $0.44 on November 22, hitting $7.25. PennantPark Investment Corp. (NASDAQ:PNNT) has risen 14.72% since April 21, 2016 and is uptrending. It has outperformed by 9.39% the S&P500.

Insitutional Activity: The institutional sentiment increased to 1.12 in 2016 Q2. Its up 0.24, from 0.88 in 2016Q1. The ratio improved, 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.

Ares Mngmt Limited holds 0.25% or 446,748 shares in its portfolio. Jpmorgan Chase Company holds 0% or 2.11M shares in its portfolio. Vsr Fincl Service owns 16,697 shares or 0.02% of their US portfolio. Blackrock Grp Limited holds 0% or 384,853 shares in its portfolio. Bessemer Group accumulated 0% or 4,400 shares. Deutsche State Bank Ag last reported 0% of its portfolio in the stock. Morgan Stanley last reported 1.64 million shares in the company. Parametric Portfolio Associates Limited Liability last reported 0% of its portfolio in the stock. Oxbow Advsr Lc holds 35,900 shares or 0.04% of its portfolio. Selway Asset holds 0.6% or 137,250 shares in its portfolio. Zacks Investment Mngmt has 0% invested in the company for 22,461 shares. Natl Bank Of Montreal Can holds 793,515 shares or 0.01% of its portfolio. Glenmede Tru Na accumulated 131 shares or 0% of the stock. The Arkansas-based Stephens Ar has invested 0.01% in PennantPark Investment Corp. (NASDAQ:PNNT). Arrowpoint Asset Limited Liability Company, a Colorado-based fund reported 339,524 shares.

PennantPark Investment Corporation is a business development firm 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 has a market cap of $513.85 million. The Firm is a closed-end, externally managed, non-diversified investment company. It has a 26.22 P/E ratio. It seeks to create a diversified portfolio that includes senior secured loans, mezzanine debt and equity investments.

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.”

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.

More notable recent PennantPark Investment Corp. (NASDAQ:PNNT) news were published by: Seekingalpha.com which released: “PennantPark Investment’s (PNNT) CEO Arthur Penn on Q4 2016 Results – Earnings …” on November 22, 2016, also Marketwatch.com with their article: “PennantPark downgraded to neutral from outperform at RW Baird” published on September 09, 2009, Fool.com published: “How Low Can PennantPark Investment Corp. Go?” on September 27, 2015. More interesting news about PennantPark Investment Corp. (NASDAQ:PNNT) were released by: Equitiesfocus.com and their article: “PennantPark Investment Corporation (NYSE:PNTA) 200-Day MA At $25.0886” published on November 22, 2016 as well as Thestreet.com‘s news article titled: “Why PennantPark Investment (PNNT) Stock Is Down Today” with publication date: September 05, 2014.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>