PennantPark Investment

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.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

PennantPark Investment reports robust Q2 performance amidst market challenges

PennantPark Investment's Q2 2024 performance reflects a strong financial position, with a focus on core middle market opportunities and strategic growth initiatives.
While the company faces challenges related to market dynamics and competition, they have opportunities to drive future growth through prudent investment strategies and portfolio diversification.
By emphasizing capital preservation and attractive risk-adjusted returns, PennantPark Investment aims to navigate challenges and capitalize on opportunities for sustainable long-term success.

PennantPark Investment posts strong Q4 results, eyes growth opportunities

PennantPark Investment delivered a strong performance in Q4 2024, maintaining a focus on core sectors and generating attractive returns. While facing challenges in market dynamics and credit sustainability, the company has opportunities to drive growth through strategic investments and refinancing. Overall, PNNT's solid financial results and diversified portfolio position it well for future success.

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PNNT trades at a ~10% discount and offers a yield of ~14%. It has also performed in line with the BDC index this year. While this sounds interesting, it is a clear no-go case.

PennantPark Investment: I've Never Seen So Complex And Speculative Structure

PennantPark Investment Corporation's recent dividends were not fully covered by net investment income, leading me to revise my rating from buy to hold. PNNT has a well-diversified portfolio but has significant exposure to equity positions, which can be challenging to value and often lead to market discounts. Despite a strong internalized rate of return on equity investments, the lack of progress in rotating out of equity positions is a negative development.

PennantPark Investment: Weak Dividend Coverage Is A Concern (Rating Downgrade)

MIAMI, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) declares its monthly distribution for December 2024 of $0.08 per share, payable on January 2, 2025 to stockholders of record as of December 16, 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.

PennantPark Investment Corporation Announces Monthly Distribution of $0.08 per Share

PennantPark Investment Corporation (NYSE:PNNT ) Q4 2024 Results Conference Call November 26, 2024 12:00 PM ET Company Participants Art Penn - Chairman and Chief Executive Officer Rick Allorto - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Paul Johnson - KBW Melissa Wedel - JPMorgan Casey Alexander - Compass Point Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Fourth Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.

PennantPark Investment Corporation (PNNT) Q4 2024 Earnings Call Transcript

Explanatory Note: PennantPark Investment Corporation (the “Company”) is updating the press release issued by the Company on November 25, 2024 to correct certain information contained therein. The updated release reads: MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NYSE: PNNT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024.

PennantPark Investment Corporation Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2024 and Upsize of Joint Venture (Amended)

While the top- and bottom-line numbers for PennantPark (PNNT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Compared to Estimates, PennantPark (PNNT) Q4 Earnings: A Look at Key Metrics

PennantPark (PNNT) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.24 per share a year ago.

PennantPark (PNNT) Q4 Earnings Match Estimates

MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NYSE: PNNT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024.

PennantPark Investment Corporation Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2024 and Upsize of Joint Venture

PennantPark (PNNT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

PennantPark (PNNT) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

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I am downgrading my rating on PennantPark Investment Corporation due to weak distribution coverage and a rising non-accrual rate, indicating lower portfolio quality. Despite a high dividend yield of 13.6%, PNNT's core net investment income is insufficient to cover distributions without relying on special dividends from the joint venture portfolio. PNNT's diversified portfolio includes 56% first lien debt and is diversified by industry. However, the equity exposure could elevate the risk profile.

PennantPark Investment: Questionable Distribution Coverage (Downgrade)

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2 BDCs That Recently Hiked Dividends But Should Not Do That Again

MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NYSE: PNNT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets.

PennantPark Investment Corporation Schedules Earnings Release of Fourth Fiscal Quarter 2024 Results

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We take a look at the action in business development companies through the first week of September and highlight some of the key themes we are watching. BDCs were down around 1% this week, with lower valuation BDCs like MRCC, PSEC, and WHF outperforming. Investors should be cautious about NII figures, as preferred dividends can reduce the actual income available to common shareholders, impacting perceived dividend coverage.

BDC Weekly Review: Common Shareholders Don't Always Have Claim To All Of NII

Joint Venture to Continue to Target the Attractive Core Middle Market Joint Venture Is Generating Strong Returns NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (“PNNT”) (NYSE: PNNT) today announced it has agreed to expand its investment in PennantPark Senior Loan Fund, LLC (“PSLF” or the “JV”), its unconsolidated joint venture with the private credit investment business of Pantheon Ventures (UK) LLP (“Pantheon”).

PennantPark Investment Corporation Announces Upsize of Joint Venture

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Q3 and YTD results show a decline in investment income and NAV per share, with a focus on maintaining a balance between dividends and liquidity. Dividend situation is at its highest in almost a decade, but potential rate cuts may impact future distributions. Enhanced returns from joint venture opportunities may provide a boost in the long term, but for now, PNNT's yield faces modest headwinds.

PennantPark Investment Corp: Dividend Likely At Cyclical Peak (Rating Downgrade)

PennantPark Investment Corporation (NYSE:PNNT ) Q3 2024 Results Conference Call August 8, 2024 12:00 PM ET Company Participants Art Penn - Founder, Chairman, Managing Partner & CEO Rick Allorto - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Robert Dodd - Raymond James Paul Johnson - KBW Melissa Wedel - JPMorgan Operator Good afternoon, and welcome to the PennantPark Investment Corporation's Third Fiscal Quarter 2024 Earnings Conference Call. Today's conference is being recorded.

PennantPark Investment Corporation (PNNT) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for PennantPark (PNNT) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

PennantPark (PNNT) Reports Q3 Earnings: What Key Metrics Have to Say

PennantPark (PNNT) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.35 per share a year ago.

PennantPark (PNNT) Beats Q3 Earnings and Revenue Estimates

MIAMI, Aug. 07, 2024 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NYSE: PNNT) announced today its financial results for the third quarter ended June 30, 2024.

PennantPark Investment Corporation Announces Financial Results for the Quarter Ended June 30, 2024

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We take a look at the action in business development companies through the second week of July and highlight some of the key themes we are watching. BDCs had a solid week with an 0.8% average total return. Early indicators of Q2 earnings results from Saratoga Investment and PennantPark show solid performance, suggesting positive total NAV returns for the sector.

BDC Weekly Review: Early Earnings Guidance Is Bullish For The Sector

PennantPark is a business development company, targeting profitable investments with steady cash flows, offering a 12.6% dividend yield. The price now trades at a less favorable discount to net asset value, which makes for a less attractive entry. PNNT's financial performance shows room for improvement, with rising non-accruals impacting net investment income and dividend coverage.

PennantPark Investment: Interest Rate Pressure Increases Non-Accruals

News for PennantPark Investment ETF (PNNT)