Bank of Montreal Can raised its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2,900.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the asset manager’s stock after buying an additional 29,000 shares during the period. Bank of Montreal Can’s holdings in PennantPark Floating Rate Capital were worth $423,000 as of its most recent SEC filing.

A number of 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 worth $134,000 after buying an additional 242 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in PennantPark Floating Rate Capital during the first quarter worth $169,000. Raymond James Financial Services Advisors Inc. raised its stake in PennantPark Floating Rate Capital by 16.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,133 shares of the asset manager’s stock worth $197,000 after buying an additional 2,000 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in PennantPark Floating Rate Capital during the first quarter worth $240,000. Finally, Wedbush Securities Inc. raised its stake in PennantPark Floating Rate Capital by 18.0% in the first quarter. Wedbush Securities Inc. now owns 17,363 shares of the asset manager’s stock worth $242,000 after buying an additional 2,653 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ PFLT) traded up 0.07% during midday trading on Tuesday, reaching $14.30. The company had a trading volume of 31,439 shares. The company’s 50 day moving average price is $14.22 and its 200-day moving average price is $13.98. PennantPark Floating Rate Capital Ltd. has a 52 week low of $12.21 and a 52 week high of $14.45.

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

The company also recently disclosed 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. This represents a $1.14 annualized dividend and a yield of 7.98%. The ex-dividend date of this dividend is Wednesday, August 16th. PennantPark Floating Rate Capital’s dividend payout ratio is currently 78.08%.

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A number of analysts have weighed in on the company. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, August 15th. BidaskClub upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $15.00 to $15.50 in a research report on Wednesday, May 10th. Finally, Ladenburg Thalmann Financial Services raised PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 price target on the stock in a research report on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price 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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