Trexquant Investment LP Sells 32,083 Shares of PennantPark Investment Co. (NASDAQ:PNNT)

Trexquant Investment LP lessened its position in shares of PennantPark Investment Co. (NASDAQ:PNNT) by 22.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 111,253 shares of the asset manager’s stock after selling 32,083 shares during the period. Trexquant Investment LP’s holdings in PennantPark Investment were worth $788,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC raised 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 valued at $842,000 after purchasing an additional 3,210 shares during the last quarter. Thrivent Financial for Lutherans grew its position in PennantPark Investment by 7.6% in the fourth 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 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 valued at $2,030,000 after buying an additional 3,470 shares during the last quarter. Founders Financial Alliance LLC lifted its position in PennantPark Investment by 8.0% during the 4th quarter. Founders Financial Alliance LLC now owns 58,642 shares of the asset manager’s stock worth $415,000 after buying an additional 4,352 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of PennantPark Investment during the 4th quarter worth about $71,000. Institutional investors and hedge funds own 26.62% of the company’s stock.

PennantPark Investment Price Performance

Shares of NASDAQ PNNT opened at $6.20 on Friday. PennantPark Investment Co. has a fifty-two week low of $5.72 and a fifty-two week high of $8.04. The stock has a market capitalization of $404.51 million, a price-to-earnings ratio of 23.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $6.97 and a 200-day moving average of $6.97.

PennantPark Investment Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 15.50%. The ex-dividend date is Tuesday, April 15th. 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.