Invesco Ltd. Has $11.75 Million Holdings in PennantPark Floating Rate Capital Ltd. $PFLT

Key Points

• Invesco Ltd. increased its stake in PennantPark Floating Rate Capital Ltd. by 8.9% in Q1, holding approximately 1.19% of the company, valued at about $11.7 million.
• Multiple institutional investors have significantly boosted their stakes in PennantPark, with some like Balyasny Asset Management increasing their positions by over 57% during the last quarter.
• PennantPark has declared a quarterly dividend of $0.1025 per share, which represents a 4.0% annual yield, despite a high payout ratio of 146.43%.

Invesco Ltd. boosted its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 8.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,049,808 shares of the asset manager's stock after buying an additional 86,099 shares during the period. Invesco Ltd. owned approximately 1.19% of PennantPark Floating Rate Capital worth $11,747,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PFLT. Raymond James Financial Inc. bought a new stake in PennantPark Floating Rate Capital in the 4th quarter valued at about $283,000. Guggenheim Capital LLC boosted its holdings in PennantPark Floating Rate Capital by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 47,999 shares of the asset manager's stock valued at $525,000 after purchasing an additional 2,890 shares during the period. MGO One Seven LLC bought a new stake in PennantPark Floating Rate Capital in the 4th quarter valued at about $726,000. Nebula Research & Development LLC bought a new stake in PennantPark Floating Rate Capital in the 4th quarter valued at about $140,000. Finally, Virtus ETF Advisers LLC boosted its holdings in PennantPark Floating Rate Capital by 17.9% in the 4th quarter. Virtus ETF Advisers LLC now owns 80,829 shares of the asset manager's stock valued at $883,000 after purchasing an additional 12,288 shares during the period. Institutional investors own 19.77% of the company's stock.

PennantPark Floating Rate Capital Price Performance

NASDAQ:PFLT traded up $0.11 on Friday, hitting $10.29. The company had a trading volume of 193,961 shares, compared to its average volume of 1,101,424. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $11.90. The firm has a 50 day moving average of $10.44 and a two-hundred day moving average of $10.48. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.34 and a beta of 0.97.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Friday, August 15th. This represents a $0.41 annualized dividend and a dividend yield of 4.0%. PennantPark Floating Rate Capital's dividend payout ratio is 146.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PFLT. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital to a "strong-buy" rating in a report on Wednesday, August 13th. Maxim Group set a $11.50 price target on shares of PennantPark Floating Rate Capital and gave the stock a "buy" rating in a report on Wednesday, May 14th. UBS Group upped their price target on shares of PennantPark Floating Rate Capital from $10.50 to $10.75 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Citigroup reaffirmed an "outperform" rating on shares of PennantPark Floating Rate Capital in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.88.

About PennantPark Floating Rate Capital

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.