International Assets Investment Management LLC Has $3.48 Million Stock Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

International Assets Investment Management LLC grew its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 1,110.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,738 shares of the asset manager's stock after acquiring an additional 263,958 shares during the period. International Assets Investment Management LLC owned about 0.49% of PennantPark Floating Rate Capital worth $3,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in PennantPark Floating Rate Capital during the second quarter worth about $34,000. Castleview Partners LLC purchased a new stake in PennantPark Floating Rate Capital during the second quarter worth about $38,000. Comerica Bank purchased a new stake in PennantPark Floating Rate Capital during the third quarter worth about $61,000. Citigroup Inc. purchased a new stake in PennantPark Floating Rate Capital during the second quarter worth about $75,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in PennantPark Floating Rate Capital during the first quarter worth about $102,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

PennantPark Floating Rate Capital Price Performance

PFLT traded up $0.14 during midday trading on Thursday, reaching $11.25. 306,881 shares of the company's stock were exchanged, compared to its average volume of 647,053. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $693.34 million, a PE ratio of 10.04 and a beta of 1.68. The business's 50-day moving average price is $11.29 and its 200 day moving average price is $11.23. PennantPark Floating Rate Capital Ltd. has a 1-year low of $9.69 and a 1-year high of $12.63.

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

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.93%. The ex-dividend date of this dividend is Friday, April 12th. PennantPark Floating Rate Capital's dividend payout ratio is presently 109.82%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a "market outperform" rating and set a $12.50 target price 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.