Jmac Enterprises LLC Grows Stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Jmac Enterprises LLC grew its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 50.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,669 shares of the asset manager’s stock after purchasing an additional 5,258 shares during the period. Jmac Enterprises LLC’s holdings in PennantPark Floating Rate Capital were worth $171,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Sound Income Strategies LLC increased its position in PennantPark Floating Rate Capital by 12.0% during the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after buying an additional 356,781 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of PennantPark Floating Rate Capital by 22.5% during 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 last quarter. JPMorgan Chase & Co. increased its holdings in shares of PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock valued at $2,913,000 after acquiring an additional 105,855 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of PennantPark Floating Rate Capital by 1,057.0% in the 3rd quarter. International Assets Investment Management LLC now owns 41,421 shares of the asset manager’s stock valued at $479,000 after purchasing an additional 37,841 shares during the last quarter. Finally, Crescent Grove Advisors LLC acquired a new stake in PennantPark Floating Rate Capital in the 3rd quarter worth approximately $476,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PFLT has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday. Raymond James began coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Trading Down 1.6 %

PennantPark Floating Rate Capital stock opened at $11.22 on Thursday. The stock has a 50-day moving average price of $11.03 and a 200 day moving average price of $11.20. The company has a market capitalization of $933.76 million, a price-to-earnings ratio of 8.72 and a beta of 1.65. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.02. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 10.96%. The ex-dividend date of this dividend is Tuesday, February 18th. PennantPark Floating Rate Capital’s payout ratio is 86.01%.

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.