MQS Management LLC Makes New $185,000 Investment in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

MQS Management LLC purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 16,959 shares of the asset manager’s stock, valued at approximately $185,000. PennantPark Floating Rate Capital accounts for about 5.3% of MQS Management LLC’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC boosted its position in shares of PennantPark Floating Rate Capital by 1,080.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after acquiring an additional 662,266 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of PennantPark Floating Rate Capital by 12.0% in the fourth quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after acquiring an additional 356,781 shares during the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the fourth quarter worth approximately $2,457,000. Van ECK Associates Corp boosted its position in shares of PennantPark Floating Rate Capital by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock worth $21,704,000 after acquiring an additional 187,465 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of PennantPark Floating Rate Capital by 72.6% in the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after acquiring an additional 105,855 shares during the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PennantPark Floating Rate Capital Trading Up 1.0 %

Shares of PFLT stock opened at $11.15 on Monday. The stock has a market cap of $980.27 million, a price-to-earnings ratio of 7.96 and a beta of 1.67. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $10.28 and a fifty-two week high of $12.02. The firm’s 50 day moving average price is $11.13 and its two-hundred day moving average price is $11.22.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.1025 per share. The ex-dividend date is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.04%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 87.86%.

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.