Pennantpark Investment Corp Gets a Hold from KBW

By Carrie Williams

In a report released today, Melissa Roberts from KBW reiterated a Hold rating on Pennantpark Investment Corp (NASDAQ: PNNT), with a price target of $8.50. The company’s shares opened today at $7.85.

According to, Roberts is a 3-star analyst with an average return of 3.1% and a 64.5% success rate. Roberts covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Fidelity National Financial Ventures, and First Financial Corporation Indiana.

Currently, the analyst consensus on Pennantpark Investment Corp is Hold and the average price target is $8, representing a 1.9% upside.

In a report issued on April 19, Jefferies also reiterated a Hold rating on the stock with a $8 price target.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PNNT in relation to earlier this year. Most recently, in December 2016, Jeffrey Flug, a Director at PNNT sold 4,708 shares for a total of $35,781.

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PennantPark Investment Corp, a business development company, invests in middle market companies primarily located in the US, with a strong management team, strong competitive positions, positive cash flow and potential for growth & viable exit strategies. The fund targets companies operating in the fields of aerospace & defense, the auto sector, broadcasting & entertainment, buildings & real estate, business services, cable television, cargo transportation, chemicals, plastics & rubber, communications, consumer products, containers packaging & glass, distribution, diversified/conglomerate manufacturing, diversified/conglomerate services, education, energy/utilities, environmental services, financial services, grocery, healthcare, education & childcare, home & office furnishings, housewares & durable consumer products, hotels, motels, inns & gaming, leisure, amusement, motion picture, entertainment, logistics, manufacturing/basic industries, media, oil & gas, personal, food & miscellaneous services, printing & publishing, retail stores and telecommunications. It provides financing in the form of senior secured loans, mezzanine debt & equity for LBOs and recapitalization transactions with an investment size ranging from $10 to $100 million. It acquires non-controlling interests and also makes equity co-investments.