Invesco Ltd. Makes New $10.53 Million Investment in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Invesco Ltd. acquired a new stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 963,709 shares of the asset manager's stock, valued at approximately $10,533,000. Invesco Ltd. owned approximately 1.16% of PennantPark Floating Rate Capital at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. NewEdge Wealth LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 0.6% during the 4th quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager's stock valued at $3,152,000 after purchasing an additional 1,700 shares in the last quarter. Graypoint LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 2.7% during the 4th quarter. Graypoint LLC now owns 71,156 shares of the asset manager's stock valued at $778,000 after purchasing an additional 1,897 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 2.0% during the 4th quarter. PFG Investments LLC now owns 107,180 shares of the asset manager's stock valued at $1,171,000 after purchasing an additional 2,118 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at about $39,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 10.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,826 shares of the asset manager's stock valued at $446,000 after purchasing an additional 3,782 shares in the last quarter. Institutional investors own 19.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PFLT shares. Keefe, Bruyette & Woods cut their price objective on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. StockNews.com lowered PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Sunday, April 20th. Finally, UBS Group dropped their target price on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.38.

PennantPark Floating Rate Capital Stock Up 0.8 %

Shares of NASDAQ:PFLT traded up $0.09 during trading on Monday, hitting $10.24. 572,287 shares of the company were exchanged, compared to its average volume of 1,033,281. The stock has a market cap of $900.23 million, a price-to-earnings ratio of 7.31 and a beta of 1.30. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $8.82 and a fifty-two week high of $12.02. The firm has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $10.95. 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 Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 12.02%. The ex-dividend date is Tuesday, April 15th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is 87.86%.

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.