PennantPark Investment: From Suboptimal To Completely Unattractive Investment [Seeking Alpha]
PennantPark Investment Corporation (PNNT)
Last pennantpark investment corporation earnings: 2/6 04:05 pm
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US:NASDAQ Investor Relations:
pennantparkinvestment.mwnewsroom.com
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Source: Seeking Alpha
On the surface, the key performance metrics (e.g., non-accruals, net investment volumes) remained sound. Yet, if we assess the situation deeper, we will notice higher risk concentration and decreased margin of safety from the already low levels before Q1, 2024 results. In this article, I outline my thinking on why I consider PNNT an unattractive investment. Right at the start of this year, I circulated an article on PennantPark Investment Corporation ( NYSE: PNNT ) arguing that it lacks several qualities that are necessary for sound defense. In my opinion, having fundamentals that are tilted towards the conservative end of the risk spectrum is vital against the backdrop of looming recessionary risk and some industry-specific headwinds such as declining investment volumes and spread compression. In PNNT's case, there were two aspects that made me uncomfortable in assigning a buy rating: Almost half of the portfolio exposed to other investment types than senior secured firs
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PNNT
News
- PennantPark Investment Corporation Schedules Earnings Release of Second Fiscal Quarter 2024 ResultsGlobeNewswire
- PennantPark Investment Corporation Announces Monthly Distribution of $0.07 per ShareGlobeNewswire
- PennantPark Investment: Higher Yielding Monthly Distribution, But Lower Total Return [Seeking Alpha]Seeking Alpha
- PennantPark (PNNT) Registers a Bigger Fall Than the Market: Important Facts to Note [Yahoo! Finance]Yahoo! Finance
- PennantPark (PNNT) Suffers a Larger Drop Than the General Market: Key Insights [Yahoo! Finance]Yahoo! Finance
PNNT
Earnings
- 2/7/24 - Beat
PNNT
Sec Filings
- 4/3/24 - Form 8-K
- 4/2/24 - Form 8-K
- 3/14/24 - Form 4
- PNNT's page on the SEC website