Rating Watching: Is FBR & Co. Very Negative For Pennant Investment (PNNT) After Its Downgrade? The Target is $8.0

November 23, 2016 - By Linda Rogers

Rating Watching:  Is FBR & Co. Very Negative For Pennant Investment (PNNT) After Its Downgrade? The Target is $8.0

Pennant Investment (PNNT) Downgrade

Pennant Investment (PNNT) was lowered by FBR & Co. from “Outperform” rating to “Mkt Perform” rating in a research report issued to investors and clients on Wednesday morning. The firm currently has a $8.0 target price on the stock. FBR & Co.’s target price suggests a potential upside of 10.34% from the stock’s last stock close price.

PennantPark Investment Corp. (NASDAQ:PNNT) Ratings Coverage

Out of 3 analysts covering Pennant Investment (PNNT), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $10.0 is the highest target while $8.0 is the lowest. The $9 average target is 24.14% above today’s ($7.25) stock price. Pennant Investment has been the topic of 3 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, September 30 by DA Davidson. The firm has “Buy” rating by Ladenburg Thalmann given on Tuesday, November 22. The stock of PennantPark Investment Corp. (NASDAQ:PNNT) earned “Buy” rating by MLV on Thursday, August 6.

The stock decreased 5.72% or $0.44 on November 22, hitting $7.25. PennantPark Investment Corp. (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 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.

Sg Americas Secs Lc accumulated 15,183 shares or 0% of the stock. Arete Wealth Ltd Com owns 50,809 shares or 0.22% of their US portfolio. Guggenheim Cap Ltd Liability Company reported 336,490 shares or 0.01% of all its holdings. Advsrs Asset Mgmt Inc last reported 0.18% of its portfolio in the stock. Creative Planning last reported 0% of its portfolio in the stock. The Illinois-based Hightower Advsr has invested 0.01% in PennantPark Investment Corp. (NASDAQ:PNNT). State Bank Of Montreal Can holds 793,515 shares or 0.01% of its portfolio. Manufacturers Life Ins The reported 10,485 shares or 0% of all its holdings. Ares Mngmt Lc has 0.25% invested in the company for 446,748 shares. Muzinich & holds 655,782 shares or 2.05% of its portfolio. Goldman Sachs, a New York-based fund reported 11,518 shares. Commonwealth Equity Services Inc has 0% invested in the company for 11,754 shares. Parametric Portfolio Ltd Llc last reported 0% of its portfolio in the stock. Stephens Inc Ar last reported 16,675 shares in the company. Eaton Vance has 0% invested in the company for 72,837 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.

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