PennantPark Investment Corp. (PNNT) is Downgraded by JP Morgan to Neutral

PennantPark Investment Corp. (PNNT) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on PennantPark Investment Corp.. 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. opened for trading at $7.21 and hit $7.28 on the upside on Friday, eventually ending the session at $7.25, with a gain of 0.97% or 0.07 points. The heightened volatility saw the trading volume jump to 2,84,566 shares. Company has a market cap of $515 M.

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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