A Director at Pennantpark Investment (PNNT) is Buying Shares

On December 15, a Director at Pennantpark Investment (PNNT), Samuel Katz, bought shares of PNNT for $36.08K.

This recent transaction increases Samuel Katz’s holding in the company by 4.3% to a total of $868.1K. Following Samuel Katz’s last PNNT Buy transaction on February 12, 2016, the stock climbed by 1.6%.

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Currently, Pennantpark Investment has an average volume of 664.67K. PNNT’s market cap is $302 million and the company has a P/E ratio of -19.00.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $5.25, reflecting a -15.2% downside. Starting in November 2020, PNNT received 6 Buy ratings in a row. Four different firms, including Compass Point and Ladenburg Thalmann & Co., currently also have a Buy rating on the stock.

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PennantPark Investment Corp. engages in the provision of access to the middle market direct lending. It seeks to create diversified portfolio which includes first lien secured debt, second lien secured debt, subordinated debt and equity investments. The company was founded by Arthur H. Penn on January 11, 2007 and is headquartered in New York, NY.

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