PennantPark Investment Corp. (PNNT) is Downgraded by DA Davidson to Neutral, Lowers Price Target to $ 7

PennantPark Investment Corp. (PNNT) was Downgraded by DA Davidson to ” Neutral” while Lowering the Price Target of the company shares to $ 7 from a previous price target of $10 . Earlier the firm had a rating of “Buy ” on the company shares. DA Davidson advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on PennantPark Investment Corp.. PennantPark Investment Corp. was Downgraded by JP Morgan to ” Neutral” on Jul 18, 2016. Robert W. Baird Downgraded PennantPark Investment Corp. on May 2, 2016 to ” Neutral”, Price Target of the shares are set at $6.

On the company’s financial health, PennantPark Investment Corp. reported $0.29 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.29.Analysts expectations of $ 38.54.During the same quarter in the previous year, the company posted $0.29 EPS.

PennantPark Investment Corp. closed down -0.07 points or -0.95% at $7.27 with 2,79,402 shares getting traded on Thursday. Post opening the session at $7.32, the shares hit an intraday low of $7.245 and an intraday high of $7.34 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Feb 10, 2016, Samuel L Katz (director) purchased 10,854 shares at $5.19 per share price. According to the SEC, on Dec 9, 2015, Jeffrey Flug (director) purchased 15,000 shares at $6.73 per share price. On Nov 18, 2015, Aviv Efrat (CFO) purchased 10,000 shares at $6.50 per share price, according to the Form-4 filing with the securities and exchange commission.

PennantPark Investment Corporation (PennantPark Investment) is a business development company 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 is a closed-end externally managed non-diversified investment company. It seeks to create a diversified portfolio that includes senior secured loans mezzanine debt and equity investments. The Company’s portfolio of industries include aerospace and defense auto sector beverage food and tobacco business services cable television communications distribution education electronics grocery insurance logistics other media and retail stores. The Company has two wholly owned subsidiaries: SBIC LP and SBIC II. PennantPark Investment Advisers LLC acts as the investment adviser of the Company.

PennantPark Investment Corp.

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