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
Current SymbolNASDAQ:PFLT
Previous Symbol
CUSIPN/A
Phone212-905-1000
Debt
Debt-to-Equity RatioN/A
Current Ratio0.14
Quick Ratio0.14
Price-To-Earnings
Trailing P/E Ratio11.40
Forward P/E Ratio10.07
P/E GrowthN/A
Sales & Book Value
Annual Sales$72.21 million
Price / Sales6.49
Cash Flow$1.0050 per share
Price / Cash Flow12.02
Book Value$13.82 per share
Price / Book0.87
Profitability
EPS (Most Recent Fiscal Year)$1.06
Net Income$33.49 million
Net Margins46.39%
Return on Equity7.76%
Return on Assets4.41%
Miscellaneous
EmployeesN/A
Outstanding Shares38,770,000
Market Cap$473.80 million
OptionableOptionable
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 declared a monthly dividend on Thursday, December 6th. Investors of record on Wednesday, December 19th will be paid a dividend of $0.081 per share on Wednesday, January 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 8.05%. The ex-dividend date of this dividend is Tuesday, December 18th. This is a positive change from Pennantpark Floating Rate Capital's previous monthly dividend of $0.08. 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) issued its quarterly earnings data on Wednesday, November, 14th. The asset manager reported $0.30 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.28 by $0.02. The asset manager had revenue of $21.30 million for the quarter, compared to the consensus estimate of $19.92 million. Pennantpark Floating Rate Capital had a return on equity of 7.76% and a net margin of 46.39%. 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?
3 Wall Street analysts have issued 12 month price objectives for Pennantpark Floating Rate Capital's stock. Their predictions range from $14.00 to $15.00. On average, they expect Pennantpark Floating Rate Capital's stock price to reach $14.50 in the next twelve months. This suggests a possible upside of 20.0% from the stock's current price. View Analyst Price Targets for Pennantpark Floating Rate Capital.
What is the consensus analysts' recommendation 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. " (11/20/2018)
- 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)
Has Pennantpark Floating Rate Capital been receiving favorable news coverage?
News headlines about PFLT stock have trended somewhat positive this week, according to InfoTrie Sentiment. The research firm identifies positive and negative news coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Pennantpark Floating Rate Capital earned a daily sentiment score of 1.2 on InfoTrie's scale. They also gave news coverage about the asset manager a news buzz of 6.0 out of 10, indicating that recent news coverage is somewhat likely to have an effect on the company's share price in the next several days.
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), New Mountain Finance (NMFC), PennantPark Investment (PNNT), Capital Southwest (CSWC), Gladstone Investment (GAIN), Triplepoint Venture Growth BDC (TPVG), Arlington Asset Investment (AI), Oaktree Strategic Income (OCSI), THL Credit (TCRD), Stellus Capital Investment (SCM), Safeguard Scientifics (SFE), OFS Capital (OFS), Capitala Finance (CPTA) and Garrison Capital (GARS).
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, Treasurer & CFO (Age 54)
- Mr. Jose A. Briones Jr., Partner
- Mr. P. Whitridge Williams Jr., J.D., Partner
- Mr. Thomas J. Friedmann Esq., Sec.
Who are Pennantpark Floating Rate Capital's major shareholders?
Pennantpark Floating Rate Capital's stock is owned by a number of of retail and institutional investors. Top institutional investors include Altshuler Shaham Ltd (4.86%), Sound Income Strategies LLC (2.69%), LGT Capital Partners LTD. (1.99%), Muzinich & Co. Inc. (1.40%), Janney Montgomery Scott LLC (1.26%) and Advisors Asset Management Inc. (1.01%). 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 Muzinich & Co. Inc., Pacific Ridge Capital Partners LLC, Monument Capital Management, Altshuler Shaham Ltd, Morgan Stanley, Janney Montgomery Scott LLC, Pin Oak Investment Advisors Inc. and Cambridge Investment Research Advisors Inc.. View Insider Buying and Selling for Pennantpark Floating Rate Capital.
Which institutional investors are buying Pennantpark Floating Rate Capital stock?
PFLT stock was purchased by a variety of institutional investors in the last quarter, including LGT Capital Partners LTD., Sound Income Strategies LLC, Advisors Asset Management Inc., Standard Life Aberdeen plc, Standard Life Aberdeen plc, Mirae Asset Global Investments Co. Ltd., BlackRock Inc. and JPMorgan Chase & Co.. 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 $12.08.
How big of a company is Pennantpark Floating Rate Capital?
Pennantpark Floating Rate Capital has a market capitalization of $473.80 million and generates $72.21 million in revenue each year. The asset manager earns $33.49 million in net income (profit) each year or $1.06 on an earnings per share basis.
What is Pennantpark Floating Rate Capital's official website?
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.
