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PennantPark Investment Corporat Message Board

  • jadelover8888 jadelover8888 Oct 6, 2010 3:23 PM Flag

    Where did ALL the cash go?


    I do agree that PNNT is a good BDC stock and should be a keeper especially if it can keep paying its current dividend yield of around 9.56% (at $ 9.88) but its current price is very close to its NAV of 10.94 (dropped from its previous 11.07 and 11.86 before that). However, what puzzles me the most is when I look at the key statistics of PNNT in Yahoo. Its total CASH is still very low - 1.30M and its operating cash flow is negative - -134.09M.
    I do not know how that happens especially I believes it had recently issued some secondary shares for extra cash. Did they already reinvest this money or use it to pay off debts?

    Equally puzzling is their DEBT is still pretty large - 236.08M and their revenue is just all right - 55.31M

    Therefore if somebody can shed some light in where ALL their cash gone or if they will continue to be profitable will be appreciated very much. Thanks in advance.

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11.42-0.10(-0.87%)Sep 16 4:00 PMEDT

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