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This Stock Has A 9.59% Yield, Sells For Less Than Book, and Insiders Have Been Buying
Wednesday, September 13, 11:10 AM ET, by Market News Video Staff

In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then ...

Reminder - Pennantpark Investment (PNNT) Goes Ex-Dividend Soon
Friday, September 15, 10:04 AM ET, by Market News Video Staff

On 9/19/17, Pennantpark Investment Corporation (PNNT) will trade ex-dividend, for its quarterly dividend of $0.18, ...

This Stock Has A 9.58% Yield And Sells For Less Than Book
Monday, September 18, 7:50 AM ET, by Market News Video Staff

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Pennantpark Investment (PNNT) Shares Cross Above 200 DMA
Wednesday, October 4, 4:31 PM ET, by Market News Video Staff

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Will Insiders Be Tempted To Buy More PNNT At The New 52-Week Low?

By Market News Video Staff, Monday, February 5, 1:14 PM ET
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In trading on Monday, shares of Pennantpark Investment Corporation (NASDAQ:PNNT) touched a new 52-week low of $6.53/share. That's a $2.15 share price drop, or -24.77% decline from the 52-week high of $8.68 set back on 02/13/2017. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for PNNT that means the stock would have to gain 32.92% to get back to the 52-week high. For a move like that, Pennantpark Investment Corporation would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as PNNT shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, PNNT has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
08/10/2017 Arthur H. Penn Chairman and CEO / Investment 32,000 $7.72 $246,991.50
08/15/2017 Arthur H. Penn Chairman and CEO / Investment 28,000 $7.62 $213,381.50
12/01/2017 Arthur H. Penn Chairman and CEO / Investment 12,000 $7.10 $85,232.40
12/04/2017 Arthur H. Penn Chairman and CEO / Investment 14,000 $7.14 $99,967.00
12/04/2017 Aviv Efrat CFO and Treasurer 10,000 $7.14 $71,420.00
12/05/2017 Arthur H. Penn Chairman and CEO / Investment 13,000 $7.13 $92,736.80
12/06/2017 Arthur H. Penn Chairman and CEO / Investment 12,000 $7.31 $87,718.80

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where PNNT has traded over the past year, with the 50-day and 200-day moving averages included.

Pennantpark Investment Corporation Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for PNNT shares, which are presently showing a last trade of $6.59/share, slightly above the new 52-week low.

This Article's Word Cloud:   Arthur   Aviv   Bargains   Chairman   Cheaper   Corporation   Efrat   Here   Insider   Insiders   Investment   Large   Monday   Oftentimes   PNNT   Penn   Pennantpark   Price   Purchased   Share   Shares   Start   Than   That   Time   Title   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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