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PNNT - PennantParc Investment Corporation

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, May 10, 2019.

  1. Marvan

    Marvan Active Member

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    PennantPark Investment Corporation specializes in direct and mezzanine investments in middle market companies.

    It invests in the form of mezzanine debt, senior secured loans, and equity investments.

    The fund typically invests in building and real estate, hotels and gaming, electronics, healthcare, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

    It invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans, and senior secured loans. It seeks to invest in companies based in the United States
    .
    The fund seeks to invest between $10 million and $50 million in its portfolio companies.

    Its mezzanine loans, senior secured loans, and other investments in its portfolio companies are between $15 million and $50 million.

    The fund may also make non-control equity and debt investments.
     
  2. Marvan

    Marvan Active Member

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    [​IMG]
    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does BankFinancial (BFIN) have what it takes? Let's find out.

    PennantPark (PNNT) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.

    This quarterly report represents an earnings surprise of -5.88%. A quarter ago, it was expected that this business development company would post earnings of $0.20 per share when it actually produced earnings of $0.18, delivering a surprise of -10%.

    Over the last four quarters, the company has surpassed consensus EPS estimates just once.

    PennantPark, which belongs to the Zacks Financial - SBIC & Commercial Industry industry, posted revenues of $28.69 million for the quarter ended March 2019, missing the Zacks Consensus Estimate by 0.68%. This compares to year-ago revenues of $27.23 million. The company has topped consensus revenue estimates just once over the last four quarters.

    The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

    PennantPark shares have added about 9.1% since the beginning of the year versus the S&P 500's gain of 14.9%.

    https://finance.yahoo.com/news/pennantpark-pnnt-misses-q2-earnings-232511214.html
     
  3. Marvan

    Marvan Active Member

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    PennantPark Investment Corporation (the "Company") (PNNT) declares its third fiscal quarter 2019 distribution of $0.18 per share, payable on July 1, 2019 to stockholders of record as of June 17, 2019.
    Distributions are paid from taxable earnings and may include a return of capital and/or capital gains.
    The 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.

    https://finance.yahoo.com/news/pennantpark-investment-corporation-announces-quarterly-200600829.html
     
  4. Marvan

    Marvan Active Member

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  5. Marvan

    Marvan Active Member

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    The market expects PennantPark (PNNT) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2019.

    This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

    https://finance.yahoo.com/news/pennantpark-pnnt-earnings-expected-grow-143602843.html
     
  6. Marvan

    Marvan Active Member

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  7. Marvan

    Marvan Active Member

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  8. Marvan

    Marvan Active Member

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  9. Marvan

    Marvan Active Member

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    PennantPark Investment Corporation (the "Company") (PNNT) declares its fourth fiscal quarter 2019 distribution of $0.18 per share, payable on October 1, 2019 to stockholders of record as of September 17, 2019.

    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.

    https://finance.yahoo.com/news/pennantpark-investment-corporation-announces-quarterly-200600549.html
     
  10. Marvan

    Marvan Active Member

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    NEW YORK, Sept. 24, 2019 (GLOBE NEWSWIRE)

    PennantPark Investment Corporation (“we,” “our,” “us” or the “Company”) (PNNT) announced that it has priced an underwritten public offering of $75 million in aggregate principal amount of 5.50% unsecured notes due 2024 (the “Notes”).

    The Notes will mature on October 15, 2024 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after October 15, 2021.

    The Notes will bear interest at a rate of 5.50% per year, payable quarterly on January 15, April 15, July 15 and October 15 of each year, with the first interest payment due on January 15, 2020.

    The Company has granted the underwriters an option to purchase up to an additional $11.25 million aggregate principal amount of the Notes to cover over-allotments, if any.

    https://finance.yahoo.com/news/pennantpark-investment-corporation-prices-public-215740722.html
     
  11. Marvan

    Marvan Active Member

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    PennantPark Investment Corporation (the "Company") (PNNT) declares its first fiscal quarter 2020 distribution of $0.18 per share, payable on January 2, 2020 to stockholders of record as of December 19, 2019.

    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.

    https://finance.yahoo.com/news/pennantpark-investment-corporation-announces-quarterly-210610306.html
     
  12. Marvan

    Marvan Active Member

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    Bryan Perry Points to High Yield at PennantPark

    MoneyShowJanuary 30, 2020

    As the U.S. economy picks up speed in 2020, raising our exposure to lenders to small to medium-sized businesses is a go-to theme, notes Bryan Perry, income expert and editor of Cash Machine."

    PennantPark Investment Corp. (PNNT) to our high-yield portfolio; it is a well-positioned business development company (BDC) that is building a strong loan portfolio in businesses levered to a stronger domestic economy.

    More from Bryan Perry: Top Picks 2020: Disney Co. (DIS)

    The fund typically invests in building and real estate, hotels and gaming, electronics, health care, education and childcare, financial services, printing and publishing, consumer products, business services, energy and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, manufacturing industries and retail.

    It invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, subordinated loans, mezzanine loans and senior secured loans. Think of them as a bank with skin in the game.

    PNNT is seeing improved dividend coverage that will be above 1X in 2020. The current dividend payout is $0.72 per share, translating to a current yield of 10.96%. The stock trades at 0.76 of book value to give a very attractive discount.

    The average weighted yield on the loan portfolio consisting of 53 companies is 11.2%, making the current 10.96% premium distribution yield an excellent entry point from my perspective.

    The current portfolio totaled $1,13 billion and consisted of $531.4 million of first lien secured debt, $391.1 million of second lien secured debt, $48.1 million of subordinated debt and $161.5 million of preferred and common equity.

    https://finance.yahoo.com/news/bryan-perry-points-high-yield-100000287.html
     
  13. Marvan

    Marvan Active Member

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    PennantPark Investment Corporation Announces Financial Results for the Quarter Ended March 31, 2020


    PORTFOLIO AND INVESTMENT ACTIVITY


    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, see the “Effects of COVID-19” section below.

    As of September 30, 2019, our portfolio totaled $1,219.4 million and consisted of $695.3 million of first lien secured debt, $269.3 million of second lien secured debt, $61.2 million of subordinated debt and $193.7 million of preferred and common equity. Our debt portfolio consisted of 87% variable-rate investments. As of September 30, 2019, we had no portfolio companies on non-accrual. Overall, the portfolio had net unrealized depreciation of $37.6 million as of September 30, 2019. Our overall portfolio consisted of 67 companies with an average investment size of $18.2 million, had a weighted average yield on interest bearing debt investments of 9.8% and was invested 57% in first lien secured debt, 22% in second lien secured debt, 5% in subordinated debt and 16% in preferred and common equity.

    For the three months ended March 31, 2020, we invested $106.8 million in eight new and 24 existing portfolio companies with a weighted average yield on debt investments of 8.2%. Sales and repayments of investments for the three months ended March 31, 2020 totaled $16.4 million. For the six months ended March 31, 2020, we invested $280.5 million in 21 new and 39 existing portfolio companies with a weighted average yield on debt investments of 8.6%. Sales and repayments of investments for the six months ended March 31, 2020 totaled $47.5 million.

    For the three months ended March 31, 2019, we invested $183.9 million in nine new and 13 existing portfolio companies with a weighted average yield on debt investments of 9.1%. Sales and repayments of investments for the three months ended March 31, 2019 totaled $115.1 million. For the six months ended March 31, 2019, we invested $378.4 million in 15 new and 26 existing portfolio companies with a weighted average yield on debt investments of 9.3%. Sales and repayments of investments for the six months ended March 31, 2019 totaled $240.9 million.

    https://finance.yahoo.com/news/pennantpark-investment-corporation-announces-financial-200510103.html
     

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