Graypoint LLC Acquires 1,844 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Graypoint LLC lifted its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 69,259 shares of the asset manager’s stock after purchasing an additional 1,844 shares during the period. Graypoint LLC’s holdings in PennantPark Floating Rate Capital were worth $801,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter worth about $34,000. PFG Investments LLC boosted its position in PennantPark Floating Rate Capital by 3.0% during the 2nd quarter. PFG Investments LLC now owns 104,886 shares of the asset manager’s stock valued at $1,210,000 after acquiring an additional 3,051 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter worth approximately $41,000. Tidal Investments LLC raised its position in shares of PennantPark Floating Rate Capital by 5.8% in the 1st quarter. Tidal Investments LLC now owns 85,821 shares of the asset manager’s stock worth $977,000 after acquiring an additional 4,700 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $63,000. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Up 0.8 %

NASDAQ PFLT opened at $11.28 on Friday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.63. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $11.49 and its 200-day moving average price is $11.39. The stock has a market cap of $828.18 million, a P/E ratio of 6.96 and a beta of 1.69.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The firm had revenue of $48.51 million for the quarter, compared to analysts’ expectations of $47.63 million. PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. During the same period last year, the company posted $0.36 earnings per share. As a group, equities analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.28 EPS for the current fiscal year.

PennantPark Floating Rate Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 10.90%. The ex-dividend date is Friday, November 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 75.93%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PFLT. StockNews.com downgraded 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 price target for the company in a research report on Monday, August 12th. Finally, JMP Securities cut their price objective on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th.

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.