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PennantPark upgraded to Outperform from Market Perform at Keefe Bruyette » 18:37
11/22/20
11/22
18:37
11/22/20
18:37
PNNT

PennantPark

$4.25 /

+0.05 (+1.19%)

Keefe Bruyette analyst…

Keefe Bruyette analyst Ryan Lynch upgraded PennantPark Investment to Outperform from Market Perform with a price target of $5.25, up from $4. The analyst acknowledges risks to the company's "substantial" energy and non-accrual investments in the current environment. However, PennantPark's current valuation "more than captures these downside risks," Lynch tells investors in a research note. Further, the "positive news" on Cano Health provides "significant upside" to PennantPark's book value, says the analyst.

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PNNT PennantPark
$4.25 /

+0.05 (+1.19%)

PNNT PennantPark
$4.25 /

+0.05 (+1.19%)

11/20/20 Ladenburg
PennantPark upgraded to Buy from Neutral at Ladenburg
11/19/20 Compass Point
Compass Point upgrades PennantPark to Buy after Cano Health 'game changer'
11/19/20 Compass Point
PennantPark upgraded to Buy from Neutral at Compass Point
PNNT PennantPark
$4.25 /

+0.05 (+1.19%)

Friday
Upgrade
PennantPark upgraded to Buy from Neutral at Ladenburg » 12:04
11/20/20
11/20
12:04
11/20/20
12:04
PNNT

PennantPark

$4.17 /

-0.03 (-0.71%)

Ladenburg upgraded…

Ladenburg upgraded PennantPark to Buy from Neutral.

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PNNT PennantPark
$4.17 /

-0.03 (-0.71%)

PNNT PennantPark
$4.17 /

-0.03 (-0.71%)

11/19/20 Compass Point
Compass Point upgrades PennantPark to Buy after Cano Health 'game changer'
11/19/20 Compass Point
PennantPark upgraded to Buy from Neutral at Compass Point
PNNT PennantPark
$4.17 /

-0.03 (-0.71%)

Thursday
Earnings
PennantPark reports Q4 core NII 14c, consensus 16c » 16:14
11/19/20
11/19
16:14
11/19/20
16:14
PNNT

PennantPark

$4.20 /

+0.6 (+16.69%)

Reports Q4 adjusted net…

Reports Q4 adjusted net asset value per share $7.59. "We are pleased with the solid performance of our portfolio through the challenging economic conditions of the last few quarters," said Arthur Penn, chairman and CEO. "We are particularly pleased with the upsizing of our PSLF JV with Pantheon as well as substantial equity positions in several high growth companies which are solidifying and bolstering NAV."

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PNNT PennantPark
$4.20 /

+0.6 (+16.69%)

PNNT PennantPark
$4.20 /

+0.6 (+16.69%)

11/19/20 Compass Point
Compass Point upgrades PennantPark to Buy after Cano Health 'game changer'
11/19/20 Compass Point
PennantPark upgraded to Buy from Neutral at Compass Point
PNNT PennantPark
$4.20 /

+0.6 (+16.69%)

Upgrade
Compass Point upgrades PennantPark to Buy after Cano Health 'game changer' » 08:22
11/19/20
11/19
08:22
11/19/20
08:22
PNNT

PennantPark

$3.60 /

+0.09 (+2.57%)

, JWS

Jaws Acquisition Corp

$11.35 /

-0.07 (-0.61%)

, CANO

Cano Health

$0.00 /

+ (+0.00%)

, PFLT

PennantPark Floating Rate

$9.31 /

+0.03 (+0.32%)

As previously reported,…

As previously reported, Compass Point analyst Casey Alexander upgraded PennantPark Investment Corp. (PNNT) to Buy from Neutral with a price target of $4.75, up from $3.50, after PennantPark Floating Rate Capital (PFLT), which he calls "the sister BDC" to PennantPark Investment, announced Q3 results and made a disclosure regarding portfolio company, Cano Health. As previously reported on November 12, Cano Health (CANO) and Jaws Acquisition Corp. (JWS), a special purpose acquisition company, announced they have entered into a definitive merger agreement. Upon completion of the transaction, the combined company will operate as Cano Health, and will be listed on the New York Stock Exchange. PennantPark Investment not only shares a position in Cano, its holding is of a much larger size, said Alexander, who estimates a potential increase to NAV of $61.2M, or 90c per share, if he assumes an equivalent mark-up on that position as a result of the transaction. He calls the Cano deal a "game changer" in the near-term.

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PNNT PennantPark
$3.60 /

+0.09 (+2.57%)

JWS Jaws Acquisition Corp
$11.35 /

-0.07 (-0.61%)

PNNT PennantPark
$3.60 /

+0.09 (+2.57%)

11/19/20 Compass Point
PennantPark upgraded to Buy from Neutral at Compass Point
JWS Jaws Acquisition Corp
$11.35 /

-0.07 (-0.61%)

CANO Cano Health
$0.00 /

+ (+0.00%)

PFLT PennantPark Floating Rate
$9.31 /

+0.03 (+0.32%)

03/25/20 Maxim
PennantPark, Garrison Capital, MVC Capital cut to Hold at Maxim
03/25/20 Maxim
PennantPark Floating Rate downgraded to Hold from Buy at Maxim
PNNT PennantPark
$3.60 /

+0.09 (+2.57%)

Upgrade
PennantPark upgraded to Buy from Neutral at Compass Point » 06:54
11/19/20
11/19
06:54
11/19/20
06:54
PNNT

PennantPark

$3.60 /

+0.09 (+2.57%)

Compass Point analyst…

Compass Point analyst Casey Alexander upgraded PennantPark to Buy from Neutral with a price target of $4.75, up from $3.50.

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PNNT PennantPark
$3.60 /

+0.09 (+2.57%)

PNNT PennantPark
$3.60 /

+0.09 (+2.57%)

Over a month ago
Conference/Events
Jefferies to hold a virtual summit » 08:20
09/09/20
09/09
08:20
09/09/20
08:20
AINV

Apollo Investment

$8.84 /

-0.05 (-0.56%)

, ARCC

Ares Capital

$14.16 /

+0.07 (+0.50%)

, BBDC

Barings BDC

$8.16 /

+0.2 (+2.51%)

, CPTA

Capitala Finance

$9.83 /

+0.03 (+0.31%)

, CSWC

Capital Southwest

$14.61 /

+0.39 (+2.74%)

, FSK

FS KKR Capital

$15.90 /

-0.22 (-1.36%)

, GAIN

Gladstone Investment

$9.29 /

+0.05 (+0.54%)

, HTGC

Hercules Capital

$11.14 /

+0.22 (+2.01%)

, OCSL

Oaktree Specialty Lending

$4.95 /

+0.005 (+0.10%)

, PNNT

PennantPark

$3.66 /

+0.115 (+3.24%)

Inaugural US BDC Virtual…

Inaugural US BDC Virtual Summit will be held on September 9.

ShowHide Related Items >><<
PNNT PennantPark
$3.66 /

+0.115 (+3.24%)

OCSL Oaktree Specialty Lending
$4.95 /

+0.005 (+0.10%)

HTGC Hercules Capital
$11.14 /

+0.22 (+2.01%)

GAIN Gladstone Investment
$9.29 /

+0.05 (+0.54%)

FSK FS KKR Capital
$15.90 /

-0.22 (-1.36%)

CSWC Capital Southwest
$14.61 /

+0.39 (+2.74%)

CPTA Capitala Finance
$9.83 /

+0.03 (+0.31%)

BBDC Barings BDC
$8.16 /

+0.2 (+2.51%)

ARCC Ares Capital
$14.16 /

+0.07 (+0.50%)

AINV Apollo Investment
$8.84 /

-0.05 (-0.56%)

AINV Apollo Investment
$8.84 /

-0.05 (-0.56%)

05/22/20 BMO Capital
Apollo Investment price target lowered to $11 from $16 at BMO Capital
05/22/20 Citi
Apollo Investment downgraded to Sell from Neutral at Citi
03/27/20 Raymond James
Apollo Investment downgraded to Market Perform at Raymond James
03/27/20 Raymond James
Apollo Investment downgraded to Market Perform from Outperform at Raymond James
ARCC Ares Capital
$14.16 /

+0.07 (+0.50%)

08/05/20 Citi
Ares Capital price target raised to $17 from $15 at Citi
05/07/20 Citi
Ares Capital price target raised to $15 from $13 at Citi
04/16/20 Raymond James
Ares Capital upgraded to Outperform at Raymond James on valuation
04/16/20 Raymond James
Ares Capital upgraded to Outperform from Market Perform at Raymond James
BBDC Barings BDC
$8.16 /

+0.2 (+2.51%)

08/18/20
Fly Intel: Top five analyst upgrades
08/17/20 Keefe Bruyette
Barings BDC upgraded to Outperform from Market Perform at Keefe Bruyette
06/24/20 Raymond James
Barings BDC upgraded to Strong Buy from Outperform at Raymond James
06/24/20 Raymond James
Barings BDC upgraded to Strong Buy from Outperform at Raymond James
CPTA Capitala Finance
$9.83 /

+0.03 (+0.31%)

05/26/20
Fly Intel: Top five analyst downgrades
05/26/20 JMP Securities
Capitala Finance downgraded to Underperform from Market Perform at JMP Securities
05/26/20 JMP Securities
Capitala downgraded to Underperform from Market Perform at JMP Securities
10/20/19 Keefe Bruyette
Capitala downgraded to Underperform from Market Perform at Keefe Bruyette
CSWC Capital Southwest
$14.61 /

+0.39 (+2.74%)

06/04/20 JMP Securities
Capital Southwest price target lowered to $17 from $22.50 at JMP Securities
03/17/20 National Securities
Capital Southwest upgraded to Buy from Neutral at National Securities
03/03/20 National Securities
Capital Southwest downgraded to Neutral from Buy at National Securities
12/12/19 Raymond James
Capital Southwest initiated with an Outperform at Raymond James
FSK FS KKR Capital
$15.90 /

-0.22 (-1.36%)

08/11/20 Compass Point
Compass Point downgrades FS KKR Capital to Neutral after $16.50 target reached
08/11/20 Compass Point
FS KKR Capital downgraded to Neutral from Buy at Compass Point
08/03/20 JPMorgan
FS KKR Capital downgraded to Neutral on valuation at JPMorgan
08/03/20 JPMorgan
FS KKR Capital downgraded to Neutral from Overweight at JPMorgan
GAIN Gladstone Investment
$9.29 /

+0.05 (+0.54%)

03/05/20 National Securities
Gladstone Investment initiated with a Neutral at National Securities
02/06/20 Wedbush
Gladstone Investment downgraded to Neutral from Outperform at Wedbush
HTGC Hercules Capital
$11.14 /

+0.22 (+2.01%)

07/31/20 Compass Point
Hercules upgraded to Buy on credit performance at Compass Point
07/31/20 Compass Point
Hercules Capital upgraded to Buy from Neutral at Compass Point
07/20/20 Piper Sandler
Hercules Capital assumed with an Overweight at Piper Sandler
06/19/20 Janney Montgomery Scott
Hercules Capital upgraded to Buy at Janney Montgomery Scott
OCSL Oaktree Specialty Lending
$4.95 /

+0.005 (+0.10%)

06/19/20 Janney Montgomery Scott
Oaktree Specialty Lending upgraded to Buy at Janney Montgomery Scott
06/19/20 Janney Montgomery Scott
Oaktree Specialty Lending upgraded to Buy from Neutral at Janney Montgomery Scott
03/05/20 National Securities
Oaktree Specialty Lending initiated with a Buy at National Securities
01/15/20
Fly Intel: Top five analyst upgrades
PNNT PennantPark
$3.66 /

+0.115 (+3.24%)

10/29/19 JPMorgan
JPMorgan downgrades PennantPark to Underweight, trims target to $6
10/29/19 JPMorgan
PennantPark downgraded to Underweight from Neutral at JPMorgan
PNNT PennantPark
$3.66 /

+0.115 (+3.24%)

OCSL Oaktree Specialty Lending
$4.95 /

+0.005 (+0.10%)

HTGC Hercules Capital
$11.14 /

+0.22 (+2.01%)

GAIN Gladstone Investment
$9.29 /

+0.05 (+0.54%)

FSK FS KKR Capital
$15.90 /

-0.22 (-1.36%)

CSWC Capital Southwest
$14.61 /

+0.39 (+2.74%)

CPTA Capitala Finance
$9.83 /

+0.03 (+0.31%)

BBDC Barings BDC
$8.16 /

+0.2 (+2.51%)

ARCC Ares Capital
$14.16 /

+0.07 (+0.50%)

AINV Apollo Investment
$8.84 /

-0.05 (-0.56%)

CSWC Capital Southwest
$14.61 /

+0.39 (+2.74%)

CSWC Capital Southwest
$14.61 /

+0.39 (+2.74%)

ARCC Ares Capital
$14.16 /

+0.07 (+0.50%)

Over a quarter ago
Earnings
PennantPark reports Q2 NII 16c, consensus 16c » 16:34
08/05/20
08/05
16:34
08/05/20
16:34
PNNT

PennantPark

$3.49 /

+0.035 (+1.01%)

Reports adjusted net…

Reports adjusted net asset value per share $7.46.

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PNNT PennantPark
$3.49 /

+0.035 (+1.01%)

PNNT PennantPark
$3.49 /

+0.035 (+1.01%)

10/29/19 JPMorgan
JPMorgan downgrades PennantPark to Underweight, trims target to $6
10/29/19 JPMorgan
PennantPark downgraded to Underweight from Neutral at JPMorgan
PNNT PennantPark
$3.49 /

+0.035 (+1.01%)

Hot Stocks
PennantPark announces joint venture with Pantheon » 09:16
08/04/20
08/04
09:16
08/04/20
09:16
PNNT

PennantPark

$3.09 /

+0.03 (+0.98%)

PennantPark announced it…

PennantPark announced it has formed a joint venture with the private credit investment business of Pantheon to create PennantPark Senior Loan Fund I, LLC. The strategic transaction seeks to position PennantPark to leverage its established middle-market lending capabilities and capitalize on compelling senior-loan opportunities amid historic market volatility. Pantheon has invested $35 million in capital to acquire a 28% stake from PNNT in a Special Purpose Vehicle that currently holds $356 million of senior loans at fair value. Additionally, Pantheon has the opportunity to contribute an additional $30 million of capital in PSLF over time. By combining its strong middle market financing platform with Pantheon's growing private credit business, PennantPark will create buying power to drive new loan originations and increase the scale of its middle market financing platform. After giving effect to the formation of PSLF, PNNT's leverage will decrease by approximately $245 million, bolstering PNNT's balance sheet.

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PNNT PennantPark
$3.09 /

+0.03 (+0.98%)

PNNT PennantPark
$3.09 /

+0.03 (+0.98%)

10/29/19 JPMorgan
JPMorgan downgrades PennantPark to Underweight, trims target to $6
10/29/19 JPMorgan
PennantPark downgraded to Underweight from Neutral at JPMorgan
PNNT PennantPark
$3.09 /

+0.03 (+0.98%)

Earnings
PennantPark reports Q1 EPS 18c, consensus 16c » 16:41
05/11/20
05/11
16:41
05/11/20
16:41
PNNT

PennantPark

$3.00 /

-0.035 (-1.15%)

"As of March 31,…

"As of March 31, 2020, our portfolio totaled $1,354.0 million and consisted of $815.2 million of first lien secured debt, $261.6 million of second lien secured debt, $64.4 million of subordinated debt and $212.8 million of preferred and common equity. Our debt portfolio consisted of 94% variable-rate investments. As of March 31, 2020, we had no portfolio companies on non-accrual. Overall, the portfolio had net unrealized depreciation of $135.0 million as of March 31, 2020. Our overall portfolio consisted of 87 companies with an average investment size of $15.6 million, had a weighted average yield on interest bearing debt investments of 9.1% and was invested 60% in first lien secured debt, 19% in second lien secured debt, 5% in subordinated debt and 16% in preferred and common equity. For more information on how the COVID-19 pandemic has affected our business and results of operations.

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PNNT PennantPark
$3.00 /

-0.035 (-1.15%)

10/29/19 JPMorgan
JPMorgan downgrades PennantPark to Underweight, trims target to $6
10/29/19 JPMorgan
PennantPark downgraded to Underweight from Neutral at JPMorgan
05/13/19 Ladenburg
PennantPark downgraded to Neutral from Buy at Ladenburg
Hot Stocks
PennantPark says well-positioned to confront COVID-19 downturn » 08:03
04/06/20
04/06
08:03
04/06/20
08:03
PNNT

PennantPark

$2.32 /

-0.105 (-4.34%)

PennantPark Investment…

PennantPark Investment announced that it issued an open letter to its stakeholders regarding a business update amid the COVID-19 pandemic. The company said, "We felt it important to provide an update on PennantPark Investment Corporation in light of the massive economic and capital markets disruptions caused by COVID-19. First and foremost, we hope that you are safe and healthy in these difficult times. Fortunately, our entire PennantPark team is safe and healthy and has been successfully working remotely from home for the past three weeks. Our contingency planning has functioned effectively and as intended. As a result, the transition of our entire team to remote work has been smooth, and we are currently fully capable of maintaining our normal functionality to complete our operational requirements. We have also taken several measures to maintain the strong culture that we cherish despite the distance. We have always believed in open and transparent communication with all of our stakeholders and remain committed to those principles today. While it is too early to quantify the impact of COVID-19 on PNNT, we want to take this opportunity to share certain observations as we navigate through these unprecedented circumstances. We have an experienced investment team that has managed through multiple economic cycles, including the Global Financial Crisis. Our principal focus has been on our existing portfolio. Because we believe in proactive communication, we have been in frequent dialogue with our portfolio companies' management teams and their sponsor owners over the last month. In addition, we have strong analytics around the portfolio, so that we can understand and assess the likely impacts of the ongoing disruption caused by COVID-19 on our portfolio companies, as well as their ability to withstand those likely impacts. We have built resilience into the PNNT portfolio through a disciplined, diversified investment strategy. The PNNT portfolio includes investments in 78 companies, representing 30 different industries. Our value-oriented investment philosophy focuses on preserving capital and ensuring that our investments have an appropriate return profile in relation to risk. We have positioned our portfolio away from direct exposure to areas of the economy that we believe, based on currently available information, are likely to be most impacted by the COVID-19 pandemic. In particular, we have generally avoided direct investments in more cyclical industries that have been hard hit by the spread of COVID-19, including restaurants, retail, apparel, and airlines. Nevertheless, there are some companies in our portfolio that have seen a significant drop in revenues during March given the impact of COVID-19, such as those in the events and gaming industries, and we know that others are likely to suffer declines as economic disruptions continue. As of December 31, 2019, gaming represented approximately 3.5% of the portfolio and its subsidiaries, across four investments. Fortunately, one of these investments was substantially refinanced in the last 10 days, and another portfolio company is undertaking a construction-phase project which provides it with interest reserves into mid-2021. Energy represents approximately 10% of the portfolio, across three names. RAM Energy Holdings LLC's operating performance on its oil and gas wells has been strong, and more than 60% of its production is hedged at over $50 per barrel through October 2022. Further on the positive side, many of our portfolio companies are in businesses such as government services, defense contracting, software/communications, and cybersecurity, which we believe, based on current circumstances, will be less impacted by COVID-19 and its associated economic disruptions. Our portfolio is also made more robust by our reasonable leverage ratios, with leverage through our security of approximately 4.7x as of December 31, 2019. Moreover, we have focused our lending activity on the U.S. middle market, which we believe represents a highly dynamic segment of the economy and benefits from terms, structures and yields that are more attractive to lenders than those of larger companies. PNNT has a strong capital structure with diversified funding sources and no near-term maturities, including a $475 million revolving credit facility maturing in 2024 with a syndicate of 14 banks; a separate $250 million revolving credit facility maturing in 2024; $134 million of SBA debentures maturing in 2026; and $86 million of unsecured notes maturing in 2024. We have been in consistent dialogue with our lenders since the beginning of the COVID-19 disruption and are thankful for their support. Based on all of these factors, we believe PNNT is well positioned to confront the COVID-19 downturn and to prosper when the economy eventually recovers. Our management team has sought to align interests closely with investors. As previously disclosed, since mid-February, officers, directors and employees have purchased over 200,000 additional shares of PNNT common stock."

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PNNT PennantPark
$2.32 /

-0.105 (-4.34%)

10/29/19 JPMorgan
JPMorgan downgrades PennantPark to Underweight, trims target to $6
10/29/19 JPMorgan
PennantPark downgraded to Underweight from Neutral at JPMorgan
05/13/19 Ladenburg
PennantPark downgraded to Neutral from Buy at Ladenburg
05/03/19 Compass Point
PennantPark downgraded to Neutral from Buy at Compass Point

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