PFG Investments LLC Acquires Shares of 101,835 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

PFG Investments LLC acquired a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 101,835 shares of the asset manager's stock, valued at approximately $1,159,000. PFG Investments LLC owned 0.17% of PennantPark Floating Rate Capital at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its holdings in shares of PennantPark Floating Rate Capital by 6.2% in the 1st quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager's stock valued at $39,222,000 after purchasing an additional 200,250 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of PennantPark Floating Rate Capital by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 1,021,521 shares of the asset manager's stock worth $12,361,000 after acquiring an additional 107,588 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of PennantPark Floating Rate Capital by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 324,900 shares of the asset manager's stock worth $3,463,000 after acquiring an additional 23,893 shares in the last quarter. NewEdge Wealth LLC bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth approximately $3,741,000. Finally, International Assets Investment Management LLC raised its stake in shares of PennantPark Floating Rate Capital by 1,110.0% during the 4th quarter. International Assets Investment Management LLC now owns 287,738 shares of the asset manager's stock worth $3,482,000 after acquiring an additional 263,958 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Stock Performance

NASDAQ PFLT traded up $0.07 on Friday, reaching $11.49. 546,667 shares of the company's stock traded hands, compared to its average volume of 436,408. The stock has a 50 day moving average price of $11.31 and a 200-day moving average price of $11.28. The firm has a market cap of $708.13 million, a price-to-earnings ratio of 10.26 and a beta of 1.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 11.83% and a net margin of 43.40%. Equities research analysts predict that PennantPark Floating Rate Capital Ltd. will post 1.29 EPS for the current fiscal year.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.23 dividend on an annualized basis and a yield of 10.70%. PennantPark Floating Rate Capital's dividend payout ratio is currently 109.82%.

Analysts Set New Price Targets

Separately, JMP Securities reissued 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.

PennantPark Floating Rate Capital Company 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.

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