Goldman Sachs Group Inc. raised its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 291.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,485 shares of the asset manager’s stock after buying an additional 29,410 shares during the period. Goldman Sachs Group Inc. owned approximately 0.15% of PennantPark Floating Rate Capital worth $550,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in PennantPark Floating Rate Capital by 2.6% in the first quarter. Envestnet Asset Management Inc. now owns 9,621 shares of the asset manager’s stock valued at $134,000 after buying an additional 242 shares in the last quarter. JPMorgan Chase & Co. raised its stake in PennantPark Floating Rate Capital by 132.0% in the first quarter. JPMorgan Chase & Co. now owns 106,471 shares of the asset manager’s stock valued at $1,484,000 after buying an additional 60,588 shares in the last quarter. Stifel Financial Corp raised its stake in PennantPark Floating Rate Capital by 128.1% in the first quarter. Stifel Financial Corp now owns 65,194 shares of the asset manager’s stock valued at $910,000 after buying an additional 36,617 shares in the last quarter. Van ECK Associates Corp raised its stake in PennantPark Floating Rate Capital by 29.0% in the first quarter. Van ECK Associates Corp now owns 204,405 shares of the asset manager’s stock valued at $2,849,000 after buying an additional 45,976 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its stake in PennantPark Floating Rate Capital by 4.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 130,463 shares of the asset manager’s stock valued at $1,819,000 after buying an additional 5,721 shares in the last quarter. Hedge funds and other institutional investors own 34.04% of the company’s stock.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) traded up 0.50% during trading on Friday, hitting $14.17. The stock had a trading volume of 153,301 shares. The firm has a 50 day moving average price of $14.22 and a 200-day moving average price of $13.97. PennantPark Floating Rate Capital Ltd. has a 1-year low of $12.21 and a 1-year high of $14.45.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $15.19 million during the quarter, compared to the consensus estimate of $15.17 million. PennantPark Floating Rate Capital had a return on equity of 7.26% and a net margin of 73.28%. Equities research analysts anticipate that PennantPark Floating Rate Capital Ltd. will post $1.16 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.05%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 78.08%.

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PFLT has been the topic of several research analyst reports. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, August 15th. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $15.00 to $15.50 in a research note on Wednesday, May 10th. BidaskClub lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Ladenburg Thalmann Financial Services upgraded PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 price objective on the stock in a research note on Thursday, May 11th. Finally, Maxim Group restated a “buy” rating and issued a $14.75 price objective on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $15.00.

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.

Institutional Ownership by Quarter for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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