Rating Summary: Is It Finally Time To Sell? FBR Capital Downgrades PennantPark Investment Corporation (NASDAQ:PNNT)

November 23, 2016 - By Vivian Park

Rating Summary: Is It Finally Time To Sell? FBR Capital Downgrades PennantPark Investment Corporation (NASDAQ:PNNT)

PennantPark Investment Corporation (NASDAQ:PNNT) Downgrade

FBR Capital downgraded the shares of PennantPark Investment Corporation (NASDAQ:PNNT) from a “Outperform” rating to a “Market Perform” rating in a a research note released on Wednesday morning.

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 11.44% above today’s ($7.08) stock price. Pennant Investment has been the topic of 16 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Wednesday, July 27 by DA Davidson. The stock of PennantPark Investment Corp. (NASDAQ:PNNT) has “Buy” rating given on Wednesday, September 30 by DA Davidson. On Wednesday, August 10 the stock rating was maintained by JMP Securities with “Market Outperform”. MLV maintained the stock with “Buy” rating in Thursday, August 6 report. Robert W. Baird downgraded PennantPark Investment Corp. (NASDAQ:PNNT) on Monday, May 2 to “Neutral” rating. The stock has “Neutral” rating given by JP Morgan on Monday, July 18. The firm has “Buy” rating given on Tuesday, November 22 by Ladenburg Thalmann.

About 657,972 shares traded hands or 91.76% up from the average. 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 Q2 2016. Its up 0.24, from 0.88 in 2016Q1. The ratio is positive, 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.

Raymond James Advsrs has invested 0% of its portfolio in PennantPark Investment Corp. (NASDAQ:PNNT). Ladenburg Thalmann Fincl Services Incorporated holds 0.01% of its portfolio in PennantPark Investment Corp. (NASDAQ:PNNT) for 69,774 shares. Moreover, Zacks Inv has 0% invested in PennantPark Investment Corp. (NASDAQ:PNNT) for 22,461 shares. Royal National Bank & Trust Of Canada reported 31,983 shares or 0% of all its holdings. Cubic Asset Management Ltd Limited Liability Company has invested 0.07% of its portfolio in PennantPark Investment Corp. (NASDAQ:PNNT). Arrowpoint Asset Mgmt Lc has 339,524 shares for 0.05% of their US portfolio. Partners Grp Inc Holding Ag holds 0.16% or 104,400 shares in its portfolio. Moreover, Taylor Frigon Mgmt Ltd Limited Liability Company has 0.88% invested in PennantPark Investment Corp. (NASDAQ:PNNT) for 123,450 shares. Aperio Ltd Liability Company accumulated 0% or 33,634 shares. Old Second Fincl Bank Of Aurora holds 0.01% of its portfolio in PennantPark Investment Corp. (NASDAQ:PNNT) for 1,702 shares. Clearbridge Investments Ltd Liability Corp accumulated 146 shares or 0% of the stock. Lpl Ltd has 0% invested in the company for 45,996 shares. Wasatch Advisors holds 61,619 shares or 0.01% of its portfolio. Tru Asset Ltd holds 0.44% of its portfolio in PennantPark Investment Corp. (NASDAQ:PNNT) for 137,848 shares. Muzinich has 2.05% invested in the company for 655,782 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 $474.32 million. The Firm is a closed-end, externally managed, non-diversified investment company. It has a 25.6 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 news for PennantPark Investment Corp. (NASDAQ:PNNT) were recently published by: Marketwatch.com, which released: “PennantPark downgraded to neutral from outperform at RW Baird” on September 09, 2009. Fool.com‘s article titled: “How Low Can PennantPark Investment Corp. Go?” and published on September 27, 2015 is yet another important article.

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