Insider Trading at PennantPark Investment Corporation?

Remigio Civitarese
Agosto 12, 2017

Advisors Asset Management Inc sold 334,992 shares as Pennantpark Invt Corp (PNNT)'s stock declined 10.68%. PennantPark Investment Corporation presently has an average rating of "Hold" and a consensus target price of $8.19. Analysts anticipate that Gladstone Investment Corporation will post $0.70 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. The firm's revenue was down 12.4% on a year-over-year basis. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & worldwide trademark and copyright law.

TRADEMARK VIOLATION WARNING: "44,897 Shares in Gladstone Investment Corporation (NASDAQ:GAIN) Acquired by KCG Holdings Inc." was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. BidaskClub upgraded shares of PennantPark Investment Corporation from a "sell" rating to a "hold" rating in a research report on Friday. They set an "outperform" rating and a $10.00 target price on the stock.

Shares of PennantPark Investment Corporation (NASDAQ PNNT) traded down 0.64% during mid-day trading on Friday, reaching $7.71. PennantPark Investment Corporation has a 12-month low of $6.86 and a 12-month high of $8.68.

PennantPark Investment Corporation (NASDAQ:PNNT) last posted its earnings results on Monday, August 7th. During the same quarter a year ago, the company posted $0.25 EPS. The company has a 50 day moving average of $9.49 and a 200 day moving average of $9.23. The original version of this piece can be accessed at https://transcriptdaily.com/2017/08/11/pennantpark-investment-corporation-pnnt-shares-sold-by-morgan-stanley-updated.html. The asset manager reported $0.18 EPS for the quarter, missing the Zacks' consensus estimate of $0.20 by $0.02. PennantPark Investment Corporation had a net margin of 53.92% and a return on equity of 9.11%. Jefferies Group LLC reaffirmed a "hold" rating and issued a $9.00 target price on shares of Gladstone Investment Corporation in a research report on Wednesday, April 12th. LLC raised its position in shares of PennantPark Investment Corporation by 50.1% in the first quarter. Janney Montgomery Scott LLC's holdings in PennantPark Investment Corporation were worth $1,090,000 at the end of the most recent reporting period. Stephens Inc. AR now owns 23,964 shares of the asset manager's stock valued at $177,000 after buying an additional 7,414 shares during the period. Stifel Financial Corp raised its stake in shares of PennantPark Investment Corporation by 43.8% in the first quarter. The average 12-month price objective among brokers that have issued ratings on the stock in the previous year is $8.07. Wells Fargo & Company MN raised its position in shares of Gladstone Investment Corporation by 2.6% in the second quarter. The company had revenue of $31.10 million for the quarter, compared to analysts' expectations of $31.09 million.

Analysts at DA Davidson reduced their FY2017 earnings per share estimates for shares of PennantPark Investment Corporation in a report released on Tuesday. KAMES CAPITAL plc purchased a new stake in PennantPark Investment Corporation during the first quarter worth approximately $475,000. Compass Point initiated coverage on PennantPark Investment Corporation in a research report on Thursday, July 13th. Pinebridge Investments L.P. now owns 22,580 shares of the asset manager's stock valued at $167,000 after buying an additional 169 shares during the period. Stifel Financial Corp now owns 18,400 shares of the asset manager's stock valued at $147,000 after buying an additional 5,600 shares during the last quarter. Keefe, Bruyette & Woods set a $9.00 price objective on PennantPark Investment Corporation and gave the company a "hold" rating in a research note on Saturday, June 24th. Ares Management LLC now owns 653,629 shares of the asset manager's stock valued at $5,321,000 after buying an additional 20,000 shares during the last quarter. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. They noted that the move was a valuation call. LSV Asset Management boosted its stake in PennantPark Investment Corporation by 262.0% in the first quarter.

In other PennantPark Investment Corporation news, CEO Arthur H. Penn purchased 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $7.78 per share, for a total transaction of $217,840.00. Company insiders own 2.40% of the company's stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The company had a trading volume of 123,751 shares. Following the acquisition, the chairman now directly owns 183,400 shares in the company, valued at approximately $1,415,848. 194,894 shares of the company's stock traded hands. The stock was purchased at an average price of $7.72 per share, for a total transaction of $247,040.00. Also, Chairman Arthur H. Penn bought 32,000 shares of the business's stock in a transaction that occurred on Wednesday, May 17th.

Moreover, Art Advsr Limited Company has 0.03% invested in PennantPark Investment Corp. The Company is a business development company. The Company's objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

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