Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) insider Arthur H. Penn bought 8,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $11.57 per share, with a total value of $92,560.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Pennantpark Floating Rate Capital stock traded up $0.17 during midday trading on Tuesday, hitting $11.75. 3,905 shares of the company were exchanged, compared to its average volume of 180,645. The stock has a fifty day simple moving average of $11.61. The company has a market cap of $451.31 million, a P/E ratio of 11.08 and a beta of 0.73. Pennantpark Floating Rate Capital Ltd has a fifty-two week low of $11.05 and a fifty-two week high of $13.79.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $22.88 million for the quarter, compared to analyst estimates of $22.90 million. Pennantpark Floating Rate Capital had a return on equity of 8.83% and a net margin of 16.65%. Equities analysts predict that Pennantpark Floating Rate Capital Ltd will post 1.19 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be given a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 9.70%. The ex-dividend date is Friday, August 16th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 107.55%.

A number of brokerages have recently issued reports on PFLT. TheStreet cut Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a report on Wednesday, May 22nd. JMP Securities decreased their target price on Pennantpark Floating Rate Capital from $13.50 to $13.00 and set a “market outperform” rating for the company in a report on Tuesday. ValuEngine cut Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. BidaskClub upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research cut Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Institutional investors have recently added to or reduced their stakes in the stock. Alphasimplex Group LLC acquired a new position in Pennantpark Floating Rate Capital during the 1st quarter worth approximately $601,000. Wambolt & Associates LLC lifted its position in Pennantpark Floating Rate Capital by 11.3% during the 2nd quarter. Wambolt & Associates LLC now owns 55,087 shares of the asset manager’s stock worth $637,000 after acquiring an additional 5,585 shares in the last quarter. Confluence Investment Management LLC lifted its position in Pennantpark Floating Rate Capital by 1.9% during the 1st quarter. Confluence Investment Management LLC now owns 140,761 shares of the asset manager’s stock worth $1,803,000 after acquiring an additional 2,606 shares in the last quarter. Bank of Montreal Can acquired a new position in Pennantpark Floating Rate Capital during the 1st quarter worth approximately $231,000. Finally, Psagot Investment House Ltd. acquired a new position in Pennantpark Floating Rate Capital during the 1st quarter worth approximately $82,000. 36.20% of the stock is currently owned by hedge funds and other institutional investors.

About Pennantpark Floating Rate Capital

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.

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Insider Buying and Selling by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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