Pennant Investment (NASDAQ:PNNT) Upgrade of Rating
Pennant Investment (NASDAQ:PNNT) was upped by Ladenburg Thalmann from Neutral rating to Buy rating in an analyst report issued to clients on Friday, 9 February.
Out of 8 analysts covering Pennant Investment, 6 rate it a Buy, 4 indicate a Hold while 0 suggest a Sell. The highest target is $8 and the lowest is $6 according to Thomson/First Call. The 12-month mean target is $7, which means downside potential of 9.21% over the current price.
Greenwich Investment Management Inc. had the most significant stake with ownership of 668,851 shares as of q2 2015 for 5.06% of the fund portfolio. Signia Capital Management Llc is another very bullish fund who is owning 235,747 shares of Pennant Investment or 4.68% of their fund portfolio. Further, Muzinich & Co. Inc. have 1.57% of their fund portfolio invested in the company for 809,431 shares. The Illinois-based fund West Family Investments Inc. revealed it had acquired a stake worth about 1.04% of the fund’s stock portfolio in Pennant Investment. The Missouri-based fund Sterneck Capital Management Llc is also positive about the stock, possessing 748,056 shares or 0.81% of their fund portfolio.
Pennant Investment (NASDAQ:PNNT) Profile
PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.
Pennant Investment (NASDAQ:PNNT) traded up 2.94% on 9 February, hitting $7.71. A total of 251,938 shares of the company’s stock traded hands. This is up from average of 245,732 shares. Pennant Investment has a 52 week low of $6.86 and a 52 week high of $8.68. The company has a market cap of $547.88 million and a P/E ratio of 6.68.
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