In a report released today, Mark Hughes from Truist Financial maintained a Buy rating on Pennantpark Investment (PNNT – Research Report), with a price target of $8.00. The company’s shares closed last Friday at $7.28.
According to TipRanks, Hughes is a top 25 analyst with an average return of 18.0% and a 74.46% success rate. Hughes covers the Financial sector, focusing on stocks such as Kinsale Capital Group, Arthur J Gallagher & Co, and Fidelity National Financial.
Currently, the analyst consensus on Pennantpark Investment is a Moderate Buy with an average price target of $7.50.
PNNT market cap is currently $474.8M and has a P/E ratio of 7.92.
Based on the recent corporate insider activity of 17 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 (PNNT) Company Description:
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.
Read More on PNNT:
- Warner Bros. upgraded, Cerence downgraded: Wall Street’s top analyst calls
- PennantPark downgraded to Market Perform at Raymond James on valuation
- PennantPark downgraded to Market Perform from Outperform at Raymond James
- PennantPark increases monthly distribution 14.3% to 8c per share
- PennantPark reports Q2 EPS 22c, consensus 24c
