Pennantpark Investment (PNNT) Gets a Buy Rating from Raymond James
Raymond James analyst Robert Dodd maintained a Buy rating on Pennantpark Investment (PNNT) yesterday. The company’s shares closed last Tuesday at $5.59.
According to TipRanks.com, Dodd is a 4-star analyst with an average return of 8.1% and a 70.8% success rate. Dodd covers the Financial sector, focusing on stocks such as Investcorp Credit Management BDC, Sixth Street Specialty Lending, and Compass Diversified Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pennantpark Investment with a $5.06 average price target.
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Based on Pennantpark Investment’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.14 million and net profit of $9.51 million. In comparison, last year the company earned revenue of $14.1 million and had a net profit of $8.26 million.
Based on the recent corporate insider activity of 11 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.
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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.