PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 281,626 shares of the asset manager’s stock after purchasing an additional 23,836 shares during the quarter. Advisors Asset Management Inc.’s holdings in PennantPark Floating Rate Capital were worth $3,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFLT. Strategic Financial Concepts LLC grew its stake in shares of PennantPark Floating Rate Capital by 1,151.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock valued at $81,000 after buying an additional 642,706 shares during the period. Millennium Management LLC lifted its holdings in PennantPark Floating Rate Capital by 391.3% in the second quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock valued at $9,046,000 after acquiring an additional 624,342 shares during the last quarter. Van ECK Associates Corp grew its position in PennantPark Floating Rate Capital by 22.5% in the third quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after acquiring an additional 330,731 shares during the period. Sound Income Strategies LLC increased its stake in PennantPark Floating Rate Capital by 11.5% during the third quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock worth $34,285,000 after acquiring an additional 306,690 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in PennantPark Floating Rate Capital in the second quarter valued at $1,769,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PFLT. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, August 12th. Finally, JMP Securities reduced their price target on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th.

PennantPark Floating Rate Capital Trading Up 0.3 %

PFLT opened at $11.07 on Friday. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.63. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $11.42 and a 200-day simple moving average of $11.37. The firm has a market cap of $812.76 million, a P/E ratio of 6.83 and a beta of 1.69.

PennantPark Floating Rate Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 11.11%. The ex-dividend date of this dividend is Friday, November 15th. PennantPark Floating Rate Capital’s dividend payout ratio is currently 75.93%.

PennantPark Floating Rate Capital Company Profile

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.