PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Director Purchases $14,992.40 in Stock

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) Director Jose A. Briones bought 1,480 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $10.13 per share, with a total value of $14,992.40. Following the completion of the transaction, the director now directly owns 330,918 shares of the company's stock, valued at approximately $3,352,199.34. The trade was a 0.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ:PFLT traded down $0.00 during mid-day trading on Wednesday, reaching $10.23. 617,293 shares of the company traded hands, compared to its average volume of 997,787. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $12.02. The company's 50 day moving average price is $10.16 and its 200-day moving average price is $10.76. The firm has a market cap of $1.01 billion, a PE ratio of 7.31 and a beta of 1.01.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 12.03%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Floating Rate Capital's payout ratio is 136.67%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Large investors have recently added to or reduced their stakes in the stock. Scoggin Management LP purchased a new stake in PennantPark Floating Rate Capital in the 1st quarter valued at about $16,446,000. Invesco Ltd. purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $10,533,000. Strategic Financial Concepts LLC grew its stake in shares of PennantPark Floating Rate Capital by 1,080.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager's stock worth $7,909,000 after acquiring an additional 662,266 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PennantPark Floating Rate Capital by 85.0% in the first quarter. Millennium Management LLC now owns 1,196,752 shares of the asset manager's stock worth $13,392,000 after buying an additional 550,011 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in PennantPark Floating Rate Capital by 57.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,507,513 shares of the asset manager's stock worth $16,477,000 after acquiring an additional 549,905 shares during the period. 19.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group cut their price target on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating on the stock in a report on Thursday, April 17th. LADENBURG THALM/SH SH raised PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 target price for the company in a research report on Tuesday, May 13th. Wall Street Zen downgraded PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Maxim Group set a $11.50 price objective on shares of PennantPark Floating Rate Capital and gave the stock a "buy" rating in a report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods cut their target price on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.08.

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.