5 Best Stocks to Buy According to Ron Mass’ Almitas Capital

3. PennantPark Investment Corporation (NYSE:PNNT)

Almitas Capital’s Stake Value: $15,129,000

Percentage of Almitas Capital’s 13F Portfolio: 7.82%      

Number of Hedge Fund Holders: 11

Apart from Almitas Capital, other hedge funds tracked by Insider Monkey that increased their holdings in PennantPark Investment Corporation (NYSE:PNNT) during the second quarter included James Morrow’s Callodine Capital Management and billionaire Israel Englander’s Millennium Management. While Callodine Capital Management upped its stake slightly by 2% to 1.81 million shares, Millennium Management boosted its holdings by 19% to 381,804 shares.

PennantPark Investment Corporation (NYSE:PNNT) is a business development company that functions like a private equity fund investing in direct and mezzanine investments in middle market companies. Earlier in the year, analysts at Raymond James reiterated their ‘Outperform’ rating on PennantPark Investment Corporation’s (NYSE:PNNT) stock while upping their price target to $9 from $8, which represents a potential upside of close to 40% from the stock’s last closing price.