PennantPark Investment Co. (NASDAQ:PNNT) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,975 shares of the asset manager’s stock after selling 10,975 shares during the quarter. Congress Wealth Management LLC DE’s holdings in PennantPark Investment were worth $78,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its holdings in PennantPark Investment by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 118,991 shares of the asset manager’s stock valued at $842,000 after buying an additional 3,210 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of PennantPark Investment by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 46,704 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 3,283 shares in the last quarter. NewEdge Wealth LLC raised its holdings in PennantPark Investment by 1.2% in the 4th quarter. NewEdge Wealth LLC now owns 286,789 shares of the asset manager’s stock worth $2,030,000 after purchasing an additional 3,470 shares during the period. Founders Financial Alliance LLC lifted its position in shares of PennantPark Investment by 8.0% during the 4th quarter. Founders Financial Alliance LLC now owns 58,642 shares of the asset manager’s stock valued at $415,000 after buying an additional 4,352 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in PennantPark Investment in the 4th quarter valued at $71,000. 26.62% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Investment Stock Performance

NASDAQ:PNNT opened at $7.06 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $460.66 million, a PE ratio of 27.14 and a beta of 1.45. PennantPark Investment Co. has a fifty-two week low of $6.43 and a fifty-two week high of $8.04. The company has a fifty day moving average of $7.09 and a two-hundred day moving average of $7.01.

PennantPark Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 13.61%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Investment’s dividend payout ratio is presently 369.23%.

PennantPark Investment Profile

PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail.