Pennantpark Floating Rate Capital Ltd (PFLT) Insider Arthur H. Penn Buys 9,000 Shares

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) insider Arthur H. Penn purchased 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $12.98 per share, with a total value of $116,820.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Pennantpark Floating Rate Capital Ltd (PFLT) traded up $0.03 during trading on Friday, reaching $12.65. 201,702 shares of the company’s stock were exchanged, compared to its average volume of 367,432. The firm has a market capitalization of $487.93, a P/E ratio of 16.22 and a beta of 0.54. Pennantpark Floating Rate Capital Ltd has a 1 year low of $12.00 and a 1 year high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $14.84 million during the quarter, compared to analyst estimates of $15.29 million. Pennantpark Floating Rate Capital had a return on equity of 7.49% and a net margin of 47.64%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. equities analysts forecast that Pennantpark Floating Rate Capital Ltd will post 0.74 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 16th will be issued a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date is Thursday, February 15th. Pennantpark Floating Rate Capital’s dividend payout ratio is presently 146.15%.

A number of institutional investors have recently added to or reduced their stakes in PFLT. Valeo Financial Advisors LLC boosted its holdings in shares of Pennantpark Floating Rate Capital by 94.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,767 shares of the asset manager’s stock valued at $120,000 after acquiring an additional 4,267 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Pennantpark Floating Rate Capital during the fourth quarter valued at $124,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Pennantpark Floating Rate Capital during the third quarter valued at $147,000. GSA Capital Partners LLP acquired a new position in shares of Pennantpark Floating Rate Capital during the second quarter valued at $207,000. Finally, Silver Capital Management LLC acquired a new position in shares of Pennantpark Floating Rate Capital during the fourth quarter valued at $214,000. 29.65% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on PFLT shares. Zacks Investment Research lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 5th. BidaskClub lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. Maxim Group restated a “buy” rating and issued a $14.75 price target on shares of Pennantpark Floating Rate Capital in a research note on Friday, December 1st. ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $15.00 price target on shares of Pennantpark Floating Rate Capital and gave the stock a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Pennantpark Floating Rate Capital currently has a consensus rating of “Buy” and an average target price of $14.95.

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Pennantpark Floating Rate Capital Company Profile

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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