PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Plans $0.10 Quarterly Dividend

Key Points

• PennantPark Floating Rate Capital Ltd. has announced a quarterly dividend of $0.10 per share, which will be paid to shareholders of record on August 15th, yielding an annualized rate of 3.9%.
• The company's stock price recently reached $10.44 with a market cap of $1.04 billion, indicating stable trading activity compared to its average volume.
• Insider activity includes Director Jose A. Briones acquiring 9,840 shares, increasing his ownership in the company, while institutional investors own 19.77% of the stock.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) declared a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.1025 per share by the asset manager on Tuesday, September 2nd. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th.

PennantPark Floating Rate Capital Stock Performance

Shares of PennantPark Floating Rate Capital stock traded up $0.07 during trading on Friday, hitting $10.47. 314,466 shares of the stock were exchanged, compared to its average volume of 1,121,556. The stock's fifty day moving average is $10.46 and its 200 day moving average is $10.57. The stock has a market cap of $1.04 billion, a PE ratio of 7.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital has a 12 month low of $8.82 and a 12 month high of $11.90.

Insiders Place Their Bets

In other PennantPark Floating Rate Capital news, Director Jose A. Briones purchased 9,840 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $10.15 per share, with a total value of $99,876.00. Following the acquisition, the director owned 329,438 shares of the company's stock, valued at $3,343,795.70. The trade was a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Institutional Trading of PennantPark Floating Rate Capital

A number of hedge funds have recently bought and sold shares of PFLT. Allworth Financial LP lifted its position in shares of PennantPark Floating Rate Capital by 1,603.7% in the second quarter. Allworth Financial LP now owns 2,777 shares of the asset manager's stock worth $29,000 after purchasing an additional 2,614 shares in the last quarter. Quarry LP raised its position in PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager's stock valued at $40,000 after acquiring an additional 2,408 shares in the last quarter. CWM LLC bought a new position in PennantPark Floating Rate Capital during the second quarter valued at approximately $49,000. Mpwm Advisory Solutions LLC bought a new position in PennantPark Floating Rate Capital during the fourth quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC bought a new position in PennantPark Floating Rate Capital during the second quarter valued at approximately $101,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.