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

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) Director Jose A. Briones purchased 1,480 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average price of $10.13 per share, for a total transaction of $14,992.40. Following the purchase, the director now directly owns 330,918 shares in the company, valued at approximately $3,352,199.34. The trade was a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

PennantPark Floating Rate Capital Stock Up 0.6%

Shares of PennantPark Floating Rate Capital stock traded up $0.06 during trading on Tuesday, reaching $10.13. The stock had a trading volume of 48,002 shares, compared to its average volume of 998,425. The stock has a fifty day moving average price of $10.20 and a two-hundred day moving average price of $10.77. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $12.02. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 7.22 and a beta of 1.01.

PennantPark Floating Rate Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.23 annualized dividend and a dividend yield of 12.14%. PennantPark Floating Rate Capital's dividend payout ratio is 136.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFLT. Keefe, Bruyette & Woods dropped their price objective on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen downgraded PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Truist Financial dropped their target price on shares of PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. LADENBURG THALM/SH SH upgraded PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price target on the stock in a report on Tuesday, May 13th. Finally, Maxim Group set a $11.50 target price on PennantPark Floating Rate Capital and gave the stock a "buy" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.08.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several large investors have recently modified their holdings of PFLT. Quarry LP boosted its holdings 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 worth $40,000 after purchasing an additional 2,408 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $55,000. Investment Partners LTD. purchased a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at approximately $109,000. Sigma Planning Corp bought a new position in shares of PennantPark Floating Rate Capital in the fourth quarter worth approximately $119,000. Finally, Miracle Mile Advisors LLC bought a new stake in PennantPark Floating Rate Capital in the 1st quarter worth approximately $124,000. Institutional investors own 19.77% of the company's stock.

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.