PennantPark Investment Corp. (PNNT) is Reiterated by FBR Capital to Outperform, Raises Price Target to $ 8

PennantPark Investment Corp. (PNNT) was Reiterated by FBR Capital to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $7.50 . FBR Capital advised their investors in a research report released on Aug 9, 2016.

Many Wall Street Analysts have commented on PennantPark Investment Corp.. Shares were Downgraded by DA Davidson on Jul 27, 2016 to ” Neutral” and Lowered the Price Target to $ 7 from a previous price target of $10 .PennantPark Investment Corp. was Downgraded by JP Morgan to ” Neutral” on Jul 18, 2016.

On the company’s financial health, PennantPark Investment Corp. reported $0.25 EPS for the quarter, based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus estimate of $0.25. The company had revenue of $35.54 million for the quarter, compared to analysts expectations of $35.63 million. The company’s revenue was down -12.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

PennantPark Investment Corp. closed down -0.01 points or -0.13% at $7.4 with 1,80,740 shares getting traded on Monday. Post opening the session at $7.43, the shares hit an intraday low of $7.37 and an intraday high of $7.45 and the price fluctuated in this range throughout the day.Shares ended Monday 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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