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home / news releases / PNNT - PennantPark Investment stock gains after Q1 earnings beat; initiates buyback program

PNNT - PennantPark Investment stock gains after Q1 earnings beat; initiates buyback program

PennantPark Investment Corporation
PennantPark Investment (NASDAQ:PNNT) stock jumps more than 4% in after-hours trading after Q1 results came in stronger-than-expected. Moreover, the company said it initiated a $25M stock buyback program, which will expire on March 31, 2023. Q1 net asset value per share of $10.11 vs. $9.85 in the previous quarter. Q1 investment income of $28.34M topped the $22.42M consensus and jumped from $18.73M in the same year-ago period. Non-controlled and non-affiliated investments at fair value were $931.82M in the first quarter, up from $820.50M in Q4 of last year. Q1 interest receivable of $5.40M compared with $4.95M in the previous quarter. Conference call starts on Feb. 10 at 12:00 p.m. ET. In December, PennantPark Investment declared a $0.12 per share dividend.

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PennantPark Investment stock gains after Q1 earnings beat; initiates buyback program
Stock Information
Company Name: PennantPark Investment Corporation
Stock Symbol: PNNT
Market: NASDAQ
Website: pennantpark.com
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