Raymond James Financial Inc. Takes Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Raymond James Financial Inc. acquired a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,937 shares of the asset manager's stock, valued at approximately $283,000.

A number of other large investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital during the third quarter worth about $39,000. Investment Partners LTD. acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $109,000. Sigma Planning Corp acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $131,000. Finally, Blue Trust Inc. acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

PennantPark Floating Rate Capital Trading Up 0.3%

PFLT traded up $0.04 during trading on Friday, hitting $10.15. The company's stock had a trading volume of 259,429 shares, compared to its average volume of 1,018,631. The firm's 50 day moving average price is $10.32 and its 200-day moving average price is $10.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market cap of $1.01 billion, a PE ratio of 7.25 and a beta of 1.01. PennantPark Floating Rate Capital Ltd. has a twelve month low of $8.82 and a twelve month high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a $0.1025 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.23 annualized dividend and a yield of 12.12%. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is presently 136.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFLT shares. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Tuesday. Keefe, Bruyette & Woods decreased their target price on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. UBS Group decreased their target price on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating for the company in a research note on Thursday, April 17th. LADENBURG THALM/SH SH upgraded shares of PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 target price for the company in a research note on Tuesday. Finally, Maxim Group set a $11.50 price objective on shares of PennantPark Floating Rate Capital and gave the company a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.08.

PennantPark Floating Rate Capital Profile

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.