Arthur H. Penn, the Chairman and CEO of Pennant Park Investment (PNNT), recently made two significant insider purchases on May 16 and May 17, 2023. In the first transaction, Penn acquired 25,000 shares of PNNT for a total of $134,155. The following day, he made another insider buy, purchasing 21,000 shares for $113,836. As investors, it’s important to take note of insider transactions as they can suggest that insiders anticipate the stock to increase in value. However, it’s worth noting that insider sells can occur for various reasons and may not necessarily indicate a bearish outlook on the stock.
PNNT
Updated on: 17/05/2023
Financial Health
Neutral
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PennantPark Investment Corporation (PNNT) Flat on May 17, Outperforms GLAD and TPVG in Finance Sector
On May 17, 2023, PennantPark Investment Corporation (PNNT) opened at $5.48 and closed at $5.48, representing a flat performance. The volume of PNNT stock traded was 128,145, and the market capitalization was not available. PNNT outperformed Gladstone Capital Corporation (GLAD) and Triplepoint Venture Growth BDC Corp. (TPVG), which increased by 0.64% and 1.24%, respectively. PNNT’s next reporting date is August 9, 2023, and the EPS forecast for this quarter is $0.29. PNNT operates in the finance sector and is classified under the investment managers industry.
PNNT Stock Forecast: 16.33% Increase Predicted by Analysts for Pennantpark Investment Corp
On May 17, 2023, Pennantpark Investment Corp (PNNT) had a median target price of 6.38, according to data from CNN Money. This represented a 16.33% increase from the last price of 5.48. The high estimate for PNNT’s 12-month price forecast was 7.00, while the low estimate was 5.50. This information was based on the predictions of 8 analysts who follow the company. PNNT’s current quarter earnings per share were $0.29, with sales of $32.8 million. The company was set to report its earnings on August 09, 2023.