Hennion & Walsh Asset Management Inc. Sells 13,192 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Hennion & Walsh Asset Management Inc. lowered its stake in PennantPark Investment Co. (NASDAQ:PNNT) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 625,359 shares of the asset manager’s stock after selling 13,192 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.96% of PennantPark Investment worth $4,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in PennantPark Investment in the 3rd quarter worth approximately $74,000. Quantbot Technologies LP bought a new position in shares of PennantPark Investment in the third quarter worth $133,000. Paloma Partners Management Co purchased a new stake in shares of PennantPark Investment in the third quarter worth $173,000. Kovack Advisors Inc. boosted its stake in PennantPark Investment by 4.6% during the third quarter. Kovack Advisors Inc. now owns 45,350 shares of the asset manager’s stock valued at $317,000 after buying an additional 2,000 shares during the period. Finally, Founders Financial Alliance LLC boosted its position in shares of PennantPark Investment by 28.0% during the 2nd quarter. Founders Financial Alliance LLC now owns 47,259 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 10,339 shares during the last quarter. Hedge funds and other institutional investors own 26.62% of the company’s stock.

PennantPark Investment Price Performance

PNNT opened at $7.14 on Thursday. PennantPark Investment Co. has a 12-month low of $6.43 and a 12-month high of $8.04. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.56. The stock has a fifty day simple moving average of $6.97 and a two-hundred day simple moving average of $7.05. The company has a market cap of $466.24 million, a price-to-earnings ratio of 42.00 and a beta of 1.47.

PennantPark Investment Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.96 annualized dividend and a dividend yield of 13.45%. PennantPark Investment’s payout ratio is 564.74%.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH downgraded shares of PennantPark Investment from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.00.

PennantPark Investment Company Profile

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.