Janney Montgomery Scott LLC raised its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 422,596 shares of the asset manager’s stock after buying an additional 5,761 shares during the period. Janney Montgomery Scott LLC’s holdings in PennantPark Floating Rate Capital were worth $5,963,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Muzinich & Co. Inc. raised its position in shares of PennantPark Floating Rate Capital by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,083,721 shares of the asset manager’s stock valued at $15,107,000 after buying an additional 529,519 shares in the last quarter. UBS Group AG raised its position in shares of PennantPark Floating Rate Capital by 50.3% in the first quarter. UBS Group AG now owns 806,964 shares of the asset manager’s stock valued at $11,249,000 after buying an additional 270,153 shares in the last quarter. LGT Capital Partners LTD. raised its position in shares of PennantPark Floating Rate Capital by 34.9% in the first quarter. LGT Capital Partners LTD. now owns 580,000 shares of the asset manager’s stock valued at $8,085,000 after buying an additional 150,000 shares in the last quarter. Greenwich Investment Management Inc. raised its position in shares of PennantPark Floating Rate Capital by 121.4% in the first quarter. Greenwich Investment Management Inc. now owns 165,679 shares of the asset manager’s stock valued at $2,309,000 after buying an additional 90,849 shares in the last quarter. Finally, West Family Investments Inc. raised its position in shares of PennantPark Floating Rate Capital by 19.2% in the first quarter. West Family Investments Inc. now owns 415,302 shares of the asset manager’s stock valued at $5,789,000 after buying an additional 66,925 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.
Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) opened at 14.33 on Wednesday. The firm’s 50-day moving average price is $14.19 and its 200-day moving average price is $13.96. PennantPark Floating Rate Capital Ltd. has a 12-month low of $12.21 and a 12-month high of $14.45.
PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Tuesday, May 9th. The asset manager reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. PennantPark Floating Rate Capital had a return on equity of 7.45% and a net margin of 87.29%. The business had revenue of $13.22 million for the quarter, compared to the consensus estimate of $14.43 million. Equities research analysts predict that PennantPark Floating Rate Capital Ltd. will post $1.10 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Thursday, July 20th were issued a dividend of $0.095 per share. The ex-dividend date was Tuesday, July 18th. This represents a $1.14 annualized dividend and a dividend yield of 7.96%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 68.26%.
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PFLT has been the topic of several research reports. Zacks Investment Research lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Ladenburg Thalmann Financial Services upgraded PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 price target on the stock in a research note on Thursday, May 11th. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $15.50 in a research note on Wednesday, May 10th. Finally, BidaskClub lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.79.
About PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Ltd. is a business development company. The Company 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.
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