PennantPark Investment Corporation (NYSE: PNNT) is -2.32% lower on its value in year-to-date trading and has touched a low of $6.31 and a high of $8.04 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PNNT stock was last observed hovering at around $6.91 in the last trading session, with the day’s loss setting it -0.16%.
Currently trading at $6.75, the stock is -2.65% and -2.91% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.09 million and changing -2.32% at the moment leaves the stock -4.59% off its SMA200. PNNT registered 4.65% gain for a year compared to 6-month loss of -9.03%. The firm has a 50-day simple moving average (SMA 50) of $6.9526 and a 200-day simple moving average (SMA200) of $7.0746.
The stock witnessed a -3.16% gain in the last 1 month and extending the period to 3 months gives it a -2.74%, and is -3.16% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.59% over the week and 1.73% over the month.
Current P/E ratio is 10.23 and Fwd P/E is 7.67. Distance from 52-week low is 6.97% and -16.04% from its 52-week high.
The EPS is expected to shrink by -9.00% this year
134.0 institutions hold shares in PennantPark Investment Corporation (PNNT), with institutional investors hold 24.76% of the company’s shares. The shares outstanding are 65.30M, and float is at 63.10M with Short Float at 2.51%. Institutions hold 23.92% of the Float.
The top institutional shareholder in the company is ARES MANAGEMENT LLC with over 2.66 million shares valued at $20.07 million. The investor’s holdings represent 4.0746 of the PNNT Shares outstanding. As of 2024-06-30, the second largest holder is LSV ASSET MANAGEMENT with 2.09 million shares valued at $15.76 million to account for 3.201 of the shares outstanding. The other top investors are INVESCO LTD. which holds 1.59 million shares representing 2.4303 and valued at over $11.97 million, while TWO SIGMA ADVISERS, LP holds 1.7023 of the shares totaling 1.11 million with a market value of $8.38 million.
PennantPark Investment Corporation (PNNT) Insider Activity
The most recent transaction is an insider purchase by Allorto Richard T JR, the company’s CFO and Treasurer. SEC filings show that Allorto Richard T JR bought 5,000 shares of the company’s common stock on Mar 12 ’24 at a price of $6.80 per share for a total of $33978.0. Following the purchase, the insider now owns 15000.0 shares.
PennantPark Investment Corporation disclosed in a document filed with the SEC on Feb 26 ’24 that Briones Jose A (Director) bought a total of 6,122 shares of the company’s common stock. The trade occurred on Feb 26 ’24 and was made at $6.86 per share for $41970.0. Following the transaction, the insider now directly holds 0.26 million shares of the PNNT stock.
Still, SEC filings show that on Feb 26 ’24, Briones Jose A (Director) acquired 1,166 shares at an average price of $6.86 for $7996.0. The insider now directly holds 10,333 shares of PennantPark Investment Corporation (PNNT).
