As shown in the following chart, PennantPark Investment (PNNT) has rallied 15% since my previous article "PNNT: Higher Oil Prices And Interest Rates Driving Higher Returns For This 11% Yielding BDC". Among other things, the article predicted that the company would report increased net asset value ("NAV") per share due to rebounding oil prices and accretive share repurchases.
Recently Reported Results And Share Repurchases
PNNT recently reported just above my base case projections and was not expected to cover its dividend due to the previous quarter with "larger-than-expected decline in portfolio