Rating Watching: Ladenburg Thalmann Gives Pennant Investment (NASDAQ:PNNT) Higher Rating. Lost Its Neutral Rating

November 23, 2016 - By Louis Casey

Rating Watching:  Ladenburg Thalmann Gives Pennant Investment (NASDAQ:PNNT) Higher Rating. Lost Its Neutral Rating

Pennant Investment (NASDAQ:PNNT) Upgrade

Pennant Investment (NASDAQ:PNNT)‘s rating was upped by investment analysts at Ladenburg Thalmann from a Neutral rating to a Buy rating in a an analyst report issued on Tuesday 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 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. The stock of PennantPark Investment Corp. (NASDAQ:PNNT) earned “Neutral” rating by Robert W. Baird on Monday, May 2. JMP Securities maintained PennantPark Investment Corp. (NASDAQ:PNNT) on Wednesday, August 10 with “Market Outperform” rating. DA Davidson initiated the shares of PNNT in a report on Wednesday, September 30 with “Buy” rating. DA Davidson downgraded the shares of PNNT in a report on Wednesday, July 27 to “Neutral” rating. MLV maintained PennantPark Investment Corp. (NASDAQ:PNNT) rating on Thursday, August 6. MLV has “Buy” rating and $10 price target. The rating was upgraded by Ladenburg Thalmann on Tuesday, November 22 to “Buy”. 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 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.

Clearbridge Invs accumulated 146 shares or 0% of the stock. Goldman Sachs Gp last reported 0% of its portfolio in the stock. Clearbridge Limited Co holds 954,298 shares or 0.13% of its portfolio. National Bank & Trust Of Montreal Can last reported 793,515 shares in the company. Asset Mgmt Inc accumulated 1.59 million shares or 0.18% of the stock. Advisory Svcs Networks Ltd Liability accumulated 9,500 shares or 0.01% of the stock. Jbf Cap Inc accumulated 0% or 1,405 shares. Vsr Financial Serv Inc has 0.02% invested in the company for 16,697 shares. Kayne Anderson Capital Advisors Limited Partnership has 50,000 shares for 0% of their US portfolio. West Family last reported 0.93% of its portfolio in the stock. Wedge Capital Management L L P Nc holds 22,846 shares or 0.01% of its portfolio. Tower Ltd Liability Corporation (Trc) owns 1,066 shares or 0% of their US portfolio. Selway Asset Mgmt holds 137,250 shares or 0.6% of its portfolio. Burgundy Asset Management has 719,026 shares for 0.05% of their US portfolio. Manufacturers Life Insurance Communications The last reported 0% of its portfolio in the stock.

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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