PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 9.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,626 shares of the asset manager’s stock after buying an additional 23,836 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.38% of PennantPark Floating Rate Capital worth $3,258,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of PennantPark Floating Rate Capital in the first quarter worth about $498,000. Tidal Investments LLC raised its holdings in 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 purchasing an additional 4,700 shares during the period. Garner Asset Management Corp purchased a new position in PennantPark Floating Rate Capital during the first quarter worth approximately $205,000. Virtu Financial LLC acquired a new stake in PennantPark Floating Rate Capital in the first quarter valued at approximately $254,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of PennantPark Floating Rate Capital in the second quarter valued at approximately $117,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, August 12th. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, JMP Securities lowered their price objective on 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 Price Performance

PennantPark Floating Rate Capital stock opened at $11.07 on Friday. The company has a fifty day simple moving average of $11.42 and a 200-day simple moving average of $11.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $812.76 million, a price-to-earnings ratio of 6.83 and a beta of 1.69. PennantPark Floating Rate Capital Ltd. has a 52-week low of $10.28 and a 52-week high of $12.63.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.1025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.23 dividend on an annualized basis and a yield of 11.11%. PennantPark Floating Rate Capital’s payout ratio is 75.93%.

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.