Pacific Capital Wealth Advisors Inc. Acquires New Position in PennantPark Investment Co. (NASDAQ:PNNT)

Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of PennantPark Investment Co. (NASDAQ:PNNT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 7,575 shares of the asset manager’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNNT. SG Americas Securities LLC purchased a new stake in PennantPark Investment during the third quarter worth approximately $495,000. Commonwealth Equity Services LLC raised its position in shares of PennantPark Investment by 54.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 48,586 shares of the asset manager’s stock worth $320,000 after purchasing an additional 17,097 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in PennantPark Investment by 4.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 88,864 shares of the asset manager’s stock worth $585,000 after buying an additional 3,387 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in PennantPark Investment by 9.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 31,042 shares of the asset manager’s stock worth $204,000 after buying an additional 2,640 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of PennantPark Investment by 346.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 188,990 shares of the asset manager’s stock worth $1,244,000 after buying an additional 146,682 shares in the last quarter. 26.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard T. Allorto, Jr. bought 5,000 shares of PennantPark Investment stock in a transaction dated Tuesday, March 12th. The shares were bought at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the purchase, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $102,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PennantPark Investment news, CFO Richard T. Allorto, Jr. purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average cost of $6.80 per share, with a total value of $34,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at approximately $102,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jose A. Briones bought 3,800 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $6.67 per share, with a total value of $25,346.00. Following the completion of the purchase, the director now owns 255,535 shares of the company’s stock, valued at approximately $1,704,418.45. The disclosure for this purchase can be found here. Insiders have acquired 22,372 shares of company stock worth $151,258 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

PennantPark Investment Price Performance

Shares of NASDAQ:PNNT remained flat at $7.17 on Tuesday. The stock had a trading volume of 308,838 shares, compared to its average volume of 428,429. The firm has a fifty day simple moving average of $6.88 and a 200 day simple moving average of $6.76. The stock has a market cap of $467.30 million, a PE ratio of 9.68 and a beta of 1.49. PennantPark Investment Co. has a one year low of $4.87 and a one year high of $7.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.81 and a quick ratio of 0.81.

PennantPark Investment (NASDAQ:PNNT) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. PennantPark Investment had a return on equity of 14.17% and a net margin of 32.55%. The company had revenue of $34.34 million during the quarter, compared to the consensus estimate of $32.49 million. As a group, analysts expect that PennantPark Investment Co. will post 0.94 EPS for the current year.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.72%. PennantPark Investment’s dividend payout ratio is currently 113.52%.

About PennantPark Investment

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.