PFG Investments LLC Purchases 2,118 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

PFG Investments LLC grew its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 107,180 shares of the asset manager’s stock after acquiring an additional 2,118 shares during the quarter. PFG Investments LLC’s holdings in PennantPark Floating Rate Capital were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sound Income Strategies LLC lifted its stake in shares of PennantPark Floating Rate Capital by 11.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock valued at $34,285,000 after buying an additional 306,690 shares in the last quarter. Millennium Management LLC lifted its stake in PennantPark Floating Rate Capital by 391.3% in the 2nd quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock worth $9,046,000 after purchasing an additional 624,342 shares in the last quarter. Van ECK Associates Corp lifted its stake in PennantPark Floating Rate Capital by 22.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after purchasing an additional 330,731 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after purchasing an additional 105,855 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in PennantPark Floating Rate Capital in the 2nd quarter worth approximately $1,769,000. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $11.20 on Wednesday. The firm’s fifty day moving average price is $11.01 and its 200-day moving average price is $11.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $931.76 million, a P/E ratio of 7.83 and a beta of 1.65. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $10.28 and a fifty-two week high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 10.99%. The ex-dividend date is Wednesday, January 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 86.01%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating on the stock. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday.

PennantPark Floating Rate Capital 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.