HighTower Advisors LLC Sells 15,148 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

HighTower Advisors LLC cut its holdings in PennantPark Investment Co. (NASDAQ:PNNT) by 28.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,681 shares of the asset manager’s stock after selling 15,148 shares during the period. HighTower Advisors LLC’s holdings in PennantPark Investment were worth $267,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNNT. Cornerstone Wealth Management LLC increased its holdings in shares of PennantPark Investment by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 118,991 shares of the asset manager’s stock worth $842,000 after buying an additional 3,210 shares during the period. NewEdge Wealth LLC increased its stake 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 PennantPark Investment by 8.0% in the fourth quarter. Founders Financial Alliance LLC now owns 58,642 shares of the asset manager’s stock valued at $415,000 after purchasing an additional 4,352 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of PennantPark Investment during the fourth quarter valued at approximately $71,000. Finally, Verition Fund Management LLC purchased a new stake in shares of PennantPark Investment during the third quarter valued at approximately $74,000. 26.62% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Investment Stock Down 1.1 %

Shares of NASDAQ PNNT opened at $7.00 on Thursday. The firm’s fifty day moving average is $7.10 and its 200 day moving average is $7.01. PennantPark Investment Co. has a 52 week low of $6.43 and a 52 week high of $8.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.56. The company has a market cap of $457.07 million, a price-to-earnings ratio of 26.92 and a beta of 1.45.

PennantPark Investment Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 13.71%. The ex-dividend date of this dividend was Friday, March 14th. PennantPark Investment’s dividend payout ratio (DPR) is 369.23%.

About PennantPark Investment

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.