PennantPark Investment Corporation Board of Directors Authorizes $30 Million Share Repurchase

PennantPark Investment Corporation (PNNT) announced on May 9 that its Board of Directors approved a new share repurchase program. The program will allow the company to repurchase up to $30 million worth of outstanding common shares. The Board of Directors expects that this repurchase program will be in place until May 8, 2019.

 

Sonal issued an alert to subscribers at 4:05 pm. The next trade was for $6.98 at 4:06 pm. The stock price opened the next morning at $6.86 and continued to move higher over the next five trading sessions. PennantPark closed at $7.22 on May 17.

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