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PennatPark Investment pops on preliminary results, dividend maintenance

Jan. 20, 2015 3:51 PM ETPennantPark Investment Corporation (PNNT)By: Stephen Alpher, SA News Editor3 Comments
  • PennantPark Investment (NYSE:PNNT -2.4%) has erased a big chunk of a sizable move lower today after estimating Dec. 31 NAV of $10.40-$10.45 per share vs. the current price of $8.56.
  • Q4 net investment income is expected at $0.25-$0.27 per share, and the company anticipates maintaining the quarterly $0.28 payout.
  • Since quarter's end, one of PNNT's portfolio companies priced an IPO. Proceeds in Q1 should be about $60M, resulting in a realized gain of $0.13 per share, and a boost to NAV of $0.08. The company also expects about $0.04 of other income this quarter.
  • With the stock price nearly 20% below NAV, the company says it has no intention of issuing shares.
  • Source: Press Release

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