NewEdge Wealth LLC Purchases Shares of 309,203 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

NewEdge Wealth LLC purchased a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 309,203 shares of the asset manager's stock, valued at approximately $3,741,000. NewEdge Wealth LLC owned about 0.53% of PennantPark Floating Rate Capital as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Quarry LP acquired a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at about $34,000. Castleview Partners LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at about $38,000. Comerica Bank bought a new position in PennantPark Floating Rate Capital in the 3rd quarter valued at about $61,000. Citigroup Inc. bought a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at about $75,000. Finally, Sunbelt Securities Inc. bought a new position in PennantPark Floating Rate Capital in the 1st quarter valued at about $99,000. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Down 1.1 %

NASDAQ PFLT traded down $0.13 during trading hours on Friday, hitting $11.16. The company's stock had a trading volume of 430,688 shares, compared to its average volume of 521,783. PennantPark Floating Rate Capital Ltd. has a 52 week low of $9.69 and a 52 week high of $12.63. The company's 50-day simple moving average is $11.29 and its two-hundred day simple moving average is $11.23. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $687.77 million, a PE ratio of 9.96 and a beta of 1.68.

PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. The firm had revenue of $37.97 million for the quarter, compared to analysts' expectations of $35.03 million. Research analysts anticipate that PennantPark Floating Rate Capital Ltd. will post 1.29 EPS for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Friday, April 12th. This represents a $1.23 annualized dividend and a dividend yield of 11.02%. PennantPark Floating Rate Capital's dividend payout ratio is currently 109.82%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a research report on Tuesday, March 26th.

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.