PNNT - PennantPark Investment Remains Attractive After Solid Q4 Results

2024-02-19 20:41:17 ET

Summary

• PennantPark Investment reported a strong Q4, helped by elevated interest rates.
• Credit quality remained strong, although the company thought if base rates remain high it could see some pressure.
• Trading below its NAV with a robust yield, the stock remains attractive.

I started coverage of PennantPark Investment ( PNNT ) back in mid-Octobe r with a “Buy” rating, saying the stock looked attractive as it has been benefiting from high interests due to its floating rate investments. The high yielding stock has generated an over 8% return since then. With the firm reporting its earnings earlier this month, let’s catch up on the name....

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