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PennantPark Investment Corporation - $PNNT STOCK NEWS

Welcome to our dedicated page for PennantPark Investment Corporation news (Ticker: $PNNT), a resource for investors and traders seeking the latest updates and insights on PennantPark Investment Corporation stock.

Pennant Investment Corp (PNNT) is a closed-end, non-diversified investment company with a primary objective of generating current income and capital appreciation through debt and equity investments. Founded in 2007 and managed by PennantPark Investment Advisers, the company focuses on investing in middle-market companies in the United States. PennantPark's experienced team, led by founder Arthur Penn, has a long history of delivering flexible capital solutions.

Headquartered in New York City, with offices in Chicago, Los Angeles, Houston, and London, the firm currently manages approximately $2.1 billion in assets. These assets are distributed across publicly-listed business development companies like PennantPark Investment Corporation (PNNT) and PennantPark Floating Rate Capital Ltd. (PFLT), as well as private vehicles for institutional partners such as PennantPark Credit Opportunities Fund II, LP (PCOF II).

The company’s investment strategies encompass a diversified portfolio that includes senior secured debt, mezzanine debt, and equity investments. As of September 30, 2022, the portfolio totaled $1,226.3 million, consisting of $631.0 million in first lien secured debt, $129.9 million in second lien secured debt, $141.3 million in subordinated debt, and $324.1 million in preferred and common equity. The interest-bearing debt portfolio is highly focused on variable-rate investments, accounting for 96% of it.

Recent achievements for PennantPark include substantial investment activities in new and existing portfolio companies. For the year ended September 30, 2022, the company invested $933.8 million in 40 new and 122 existing portfolio companies, achieving a weighted average yield on debt investments of 8.4%. The firm has managed to maintain a diversified portfolio with 123 companies, ensuring minimal exposure to risk with only one portfolio company on non-accrual status as of the same date.

Financial performance has shown a positive trend with net investment income reaching $65.5 million for the year ended September 30, 2023, up from $43.9 million the previous year. This increase is primarily attributed to higher investment income.

In terms of recent developments, PennantPark marked continued growth in its Middle Market CLO Platform, now managing seven CLOs. Additionally, the firm announced its financial results for the first quarter ended December 31, 2023, highlighting $86.2 million invested in six new and 29 existing portfolio companies.

PennantPark Investment Corp is dedicated to offering attractive risk-reward opportunities to investors while preserving capital. With a robust management team and a well-structured investment strategy, the company continues to be a significant player in the middle-market investment landscape.

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PennantPark Investment announced a 14.3% increase in its monthly distribution to $0.08 per share and revealed its financial results for the quarter ended March 31, 2024. The company's assets and liabilities showed a positive trend, with notable increases in net asset value per share and core net investment income. Portfolio activity remained strong, with substantial investments and sales, particularly in the PSLF portfolio. The company experienced an uptick in net investment income and a decrease in expenses, leading to an increase in net assets resulting from operations. Despite some net realized losses, the overall performance displayed growth and stability.

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PennantPark Investment (PNNT) announces its monthly distribution for May 2024 of $0.07 per share, payable on June 3, 2024 to stockholders of record as of May 15, 2024. The distribution is expected to be paid from taxable net investment income. PennantPark primarily invests in U.S. middle-market private companies through various debt and equity investments. Managed by PennantPark Investment Advisers, , the company has a strong middle market credit platform with $7.2 billion of investable capital.

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PennantPark Investment (PNNT) will announce its second fiscal quarter results on May 8, 2024, followed by a conference call on May 9, 2024. Interested parties can join the call to discuss the financial outcomes.
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PennantPark Investment (PNNT) announces a monthly distribution of $0.07 per share for April 2024, payable on May 1, 2024, to stockholders of record as of April 15, 2024, expected to be paid from taxable net investment income.
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PennantPark Investment Corporation (PNNT) announces a monthly distribution of $0.07 per share for March 2024, payable on April 1, 2024, to stockholders of record as of March 18, 2024, sourced from taxable net investment income.
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PennantPark Investment Corporation (PNNT) reported a quarterly decrease in GAAP net asset value per share of 0.6% and a net investment income of $15.7 million for the first quarter ended December 31, 2023. The company's portfolio totaled $1,210.8 million, with $857.9 million in PSLF investment portfolio. The weighted average yield on debt investments was 12.6%.
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PennantPark Investment Corporation (PNNT) has declared a monthly distribution for February 2024 of $0.07 per share, payable on March 1, 2024 to stockholders of record as of February 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission.
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PennantPark Investment Corporation (PNNT) will report first fiscal quarter results on February 7, 2024, and host a conference call on February 8, 2024. Interested parties can access the call via phone or webcast.
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PennantPark Investment Corporation (NYSE: PNNT) declares a monthly distribution for January 2024 of $0.07 per share, payable on February 1, 2024 to stockholders of record as of January 16, 2024. The distribution is expected to be paid from taxable net investment income.
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PennantPark Investment Corporation (PNNT) declares a monthly distribution for December 2023 of $0.07 per share, payable on January 2, 2024, to stockholders of record as of December 18, 2023. The distribution is expected to be paid from taxable net investment income.
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FAQ

What is Pennant Investment Corp?

Pennant Investment Corp (PNNT) is a closed-end, non-diversified investment company focused on generating income and capital appreciation through debt and equity investments.

What are the primary investment strategies of Pennant Investment Corp?

The company's investment strategies include senior secured debt, mezzanine debt, and equity investments, with a focus on U.S. middle-market companies.

Who manages Pennant Investment Corp?

Pennant Investment Corp is managed by PennantPark Investment Advisers, LLC.

Where is Pennant Investment Corp headquartered?

The company is headquartered in New York City, with additional offices in Chicago, Los Angeles, Houston, and London.

What are the recent financial highlights for Pennant Investment Corp?

For the year ended September 30, 2023, the company reported a net investment income of $65.5 million, up from $43.9 million the previous year.

How much in assets does PennantPark manage?

The firm manages approximately $2.1 billion in assets.

What types of companies does Pennant Investment Corp invest in?

The company focuses on middle-market companies in the United States that offer attractive risk-reward opportunities.

What is the composition of PennantPark's portfolio?

As of September 30, 2022, the portfolio included $631.0 million in first lien secured debt, $129.9 million in second lien secured debt, $141.3 million in subordinated debt, and $324.1 million in preferred and common equity.

What are PennantPark's recent achievements?

Recent achievements include significant investment activities and the expansion of its Middle Market CLO Platform to seven CLOs under management.

Who leads PennantPark?

The company is led by founder Arthur Penn and a senior team with extensive experience in middle-market investments.

PennantPark Investment Corporation

NYSE:PNNT

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489.18M
65.23M
3.36%
29.38%
1.16%
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