Jefferies Sticks to Its Hold Rating for Pennantpark Investment (PNNT)

In a report issued on April 16, John Hecht from Jefferies maintained a Hold rating on Pennantpark Investment (PNNTResearch Report), with a price target of $6.00. The company’s shares closed last Friday at $6.58, close to its 52-week high of $6.62.

According to TipRanks.com, Hecht is a 5-star analyst with an average return of 14.1% and a 69.7% success rate. Hecht covers the Financial sector, focusing on stocks such as Discover Financial Services, Consumer Portfolio Services, and Apollo Investment Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pennantpark Investment with a $6.50 average price target.

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Based on Pennantpark Investment’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $72.43 million and net profit of $71.13 million. In comparison, last year the company earned revenue of $20.67 million and had a net profit of $19.2 million.

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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.