Pennantpark Investment Corp Receives a New Rating from Top Analyst

By Jason Carr

Jefferies analyst John Hecht reiterated a Hold rating on Pennantpark Investment Corp (NASDAQ: PNNT) yesterday and set a price target of $8. The company’s shares closed yesterday at $8.06.

According to, Hecht is a top 100 analyst with an average return of 16.1% and a 77.3% success rate. Hecht covers the Financial sector, focusing on stocks such as Consumer Portfolio Services, Discover Financial Services, and Gladstone Investment Corp.

Pennantpark Investment Corp has an analyst consensus of Hold, with a price target consensus of $8.50.

The company has a one year high of $8.68 and a one year low of $5.83. Currently, Pennantpark Investment Corp has an average volume of 468.2K.

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, Adam Bernstein, a Director at PNNT bought 200 shares for a total of $1,534.

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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.