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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investors, not elsewhere classified
Sub-IndustryN/A
SectorFinance
SymbolNASDAQ:PFLT
CUSIPN/A
Phone212-905-1000
Debt
Debt-to-Equity RatioN/A
Current Ratio0.09
Quick Ratio0.09
Price-To-Earnings
Trailing P/E Ratio12.37
Forward P/E Ratio13.99
P/E GrowthN/A
Sales & Book Value
Annual Sales$59.50 million
Price / Sales8.84
Cash Flow$0.9714 per share
Price / Cash13.97
Book Value$14.10 per share
Price / Book0.96
Profitability
EPS (Most Recent Fiscal Year)$1.10
Net Income$36.32 million
Net Margins48.08%
Return on Equity7.86%
Return on Assets4.71%
Miscellaneous
EmployeesN/A
Outstanding Shares38,770,000
Market Cap$528.46 million
Pennantpark Floating Rate Capital (NASDAQ:PFLT) Frequently Asked Questions
What is Pennantpark Floating Rate Capital's stock symbol?
Pennantpark Floating Rate Capital trades on the NASDAQ under the ticker symbol "PFLT."
How often does Pennantpark Floating Rate Capital pay dividends? What is the dividend yield for Pennantpark Floating Rate Capital?
Pennantpark Floating Rate Capital announced a monthly dividend on Wednesday, August 8th. Stockholders of record on Tuesday, August 21st will be given a dividend of $0.077 per share on Tuesday, September 4th. This represents a $0.92 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Monday, August 20th. View Pennantpark Floating Rate Capital's Dividend History.
How were Pennantpark Floating Rate Capital's earnings last quarter?
Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) posted its earnings results on Wednesday, August, 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.27 by $0.04. The asset manager earned $19.53 million during the quarter, compared to analysts' expectations of $17.93 million. Pennantpark Floating Rate Capital had a return on equity of 7.86% and a net margin of 48.08%. View Pennantpark Floating Rate Capital's Earnings History.
When is Pennantpark Floating Rate Capital's next earnings date?
What price target have analysts set for PFLT?
4 Wall Street analysts have issued 12 month price targets for Pennantpark Floating Rate Capital's stock. Their forecasts range from $8.00 to $15.00. On average, they anticipate Pennantpark Floating Rate Capital's stock price to reach $12.50 in the next year. This suggests that the stock has a possible downside of 7.9%. View Analyst Price Targets for Pennantpark Floating Rate Capital.
What is the consensus analysts' recommendation for Pennantpark Floating Rate Capital?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pennantpark Floating Rate Capital in the last year. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Pennantpark Floating Rate Capital.
What are Wall Street analysts saying about Pennantpark Floating Rate Capital stock?
Here are some recent quotes from research analysts about Pennantpark Floating Rate Capital stock:
- 1. According to Zacks Investment Research, "PennantPark Floating Rate Capital Ltd. is a business development company. It is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies. The firm provides first lien secured debt and other opportunistic financings (mezzanine, private high yield debt, preferred and common stock) to middle market sponsors and companies. Its investments may include equity features, such as direct investments in the equity securities of borrowers or warrants or options to buy a minority interest in a portfolio company. It has investments in various sectors, including aerospace and defense; consumer services; healthcare and pharmaceuticals, and others. The firm has a value-oriented, bottoms-up investment philosophy. Its investment activities are managed by the investment advisor, PennantPark Investment Advisers LLC. " (8/14/2018)
- 2. Maxim Group analysts commented, "NII of $0.24 per share consistent with our expectation of dividend coverage in F4Q18, especially given strong originations in F2Q18 and thus far in F3Q18. Our price target of $14 equates to 1.0x NAV. In our view, BDCs such as PFLT (focused on high quality, senior secured, floating rate investments) should not trade below a valuation level of 1.0x NAV in the current environment.." (5/11/2018)
Are investors shorting Pennantpark Floating Rate Capital?
Pennantpark Floating Rate Capital saw a drop in short interest during the month of July. As of July 31st, there was short interest totalling 403,044 shares, a drop of 33.4% from the July 13th total of 605,371 shares. Based on an average daily volume of 169,547 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.0% of the shares of the stock are short sold. View Pennantpark Floating Rate Capital's Current Options Chain.
Who are some of Pennantpark Floating Rate Capital's key competitors?
Some companies that are related to Pennantpark Floating Rate Capital include TPG Specialty Lending (TSLX), Golub Capital BDC (GBDC), Tian Ge Interactive (TGRVF), New Mountain Finance (NMFC), PennantPark Investment (PNNT), Gladstone Investment (GAIN), Capital Southwest (CSWC), Arlington Asset Investment (AI), THL Credit (TCRD), Oaktree Strategic Income (OCSI), TRIPLEPOINT VEN/COM (TPVG), Stellus Capital Investment (SCM), Safeguard Scientifics (SFE), OFS Capital (OFS) and Capitala Finance (CPTA).
Who are Pennantpark Floating Rate Capital's key executives?
Pennantpark Floating Rate Capital's management team includes the folowing people:
- Mr. Arthur H. Penn, Founder, Chairman and Chief Exec. Officer (Age 55)
- Mr. Aviv Efrat, Chief Financial Officer, Principal Accounting Officer and Treasurer (Age 54)
- Mr. Jose A. Briones Jr., Partner
- Mr. P. Whitridge Williams Jr., J.D., Partner
- Mr. Thomas J. Friedmann Esq., Sec.
Has Pennantpark Floating Rate Capital been receiving favorable news coverage?
News articles about PFLT stock have trended somewhat positive this week, according to Accern Sentiment. The research group scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Pennantpark Floating Rate Capital earned a daily sentiment score of 0.12 on Accern's scale. They also assigned news coverage about the asset manager an impact score of 46.04 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the immediate future. View Recent Headlines for Pennantpark Floating Rate Capital.
Who are Pennantpark Floating Rate Capital's major shareholders?
Pennantpark Floating Rate Capital's stock is owned by a variety of of retail and institutional investors. Top institutional investors include Altshuler Shaham Ltd (4.92%), Janney Montgomery Scott LLC (1.31%), Van ECK Associates Corp (0.75%), BlackRock Inc. (0.44%), Greenwich Investment Management Inc. (0.43%) and Cue Financial Group Inc. (0.38%). Company insiders that own Pennantpark Floating Rate Capital stock include Arthur H Penn and Samuel L Katz. View Institutional Ownership Trends for Pennantpark Floating Rate Capital.
Which institutional investors are selling Pennantpark Floating Rate Capital stock?
PFLT stock was sold by a variety of institutional investors in the last quarter, including Advisors Asset Management Inc., Confluence Investment Management LLC, BlackRock Inc., WESPAC Advisors LLC, Greenwich Investment Management Inc., Monument Capital Management, Taylor Frigon Capital Management LLC and Altshuler Shaham Ltd. View Insider Buying and Selling for Pennantpark Floating Rate Capital.
Which institutional investors are buying Pennantpark Floating Rate Capital stock?
PFLT stock was acquired by a variety of institutional investors in the last quarter, including Sumitomo Mitsui Asset Management Company LTD, Citadel Advisors LLC, Mckinley Capital Management LLC Delaware, BlueMountain Capital Management LLC, Legal & General Group Plc, Janney Montgomery Scott LLC, Van ECK Associates Corp and Cambridge Investment Research Advisors Inc.. Company insiders that have bought Pennantpark Floating Rate Capital stock in the last two years include Arthur H Penn and Samuel L Katz. View Insider Buying and Selling for Pennantpark Floating Rate Capital.
How do I buy shares of Pennantpark Floating Rate Capital?
Shares of PFLT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Pennantpark Floating Rate Capital's stock price today?
One share of PFLT stock can currently be purchased for approximately $13.57.
How big of a company is Pennantpark Floating Rate Capital?
Pennantpark Floating Rate Capital has a market capitalization of $528.46 million and generates $59.50 million in revenue each year. The asset manager earns $36.32 million in net income (profit) each year or $1.10 on an earnings per share basis.
How can I contact Pennantpark Floating Rate Capital?
Pennantpark Floating Rate Capital's mailing address is 590 MADISON AVENUE 15TH FLOOR, NEW YORK NY, 10022. The asset manager can be reached via phone at 212-905-1000 or via email at [email protected]
MarketBeat Community Rating for Pennantpark Floating Rate Capital (NASDAQ PFLT)
MarketBeat's community ratings are surveys of what our community members think about Pennantpark Floating Rate Capital and other stocks. Vote "Outperform" if you believe PFLT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PFLT will underperform the S&P 500 over the long term. You may vote once every thirty days.
