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

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) announced a quarterly dividend on Monday, August 4th, RTT News reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.1025 per share by the asset manager on Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 3.9%.

PennantPark Floating Rate Capital Price Performance

PennantPark Floating Rate Capital stock traded up $0.04 during mid-day trading on Monday, hitting $10.44. 602,703 shares of the company were exchanged, compared to its average volume of 1,135,306. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $10.44 and a 200 day moving average of $10.58. PennantPark Floating Rate Capital has a 1-year low of $8.82 and a 1-year high of $11.90. The company has a market capitalization of $1.04 billion, a PE ratio of 7.45 and a beta of 0.95.

Insider Activity

In other news, Director Jose A. Briones acquired 9,840 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $10.15 per share, for a total transaction of $99,876.00. Following the completion of the acquisition, the director owned 329,438 shares in the company, valued at $3,343,795.70. This represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its stake in PennantPark Floating Rate Capital by 17.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,048 shares of the asset manager's stock valued at $661,000 after purchasing an additional 8,830 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of PennantPark Floating Rate Capital by 8.0% in the first quarter. Sound Income Strategies LLC now owns 3,585,201 shares of the asset manager's stock valued at $40,118,000 after buying an additional 265,162 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PennantPark Floating Rate Capital in the fourth quarter valued at approximately $283,000. Janney Montgomery Scott LLC lifted its position in shares of PennantPark Floating Rate Capital by 6.3% in the first quarter. Janney Montgomery Scott LLC now owns 43,716 shares of the asset manager's stock valued at $489,000 after buying an additional 2,579 shares during the last quarter. Finally, LPL Financial LLC lifted its position in shares of PennantPark Floating Rate Capital by 20.4% in the fourth quarter. LPL Financial LLC now owns 432,287 shares of the asset manager's stock valued at $4,725,000 after buying an additional 73,365 shares during the last quarter. 19.77% of the stock is currently owned by institutional investors.

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.

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