PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Director Jose A. Briones Acquires 1,740 Shares

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Director Jose A. Briones purchased 1,740 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $11.48 per share, for a total transaction of $19,975.20. Following the completion of the purchase, the director now directly owns 316,853 shares of the company’s stock, valued at $3,637,472.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PennantPark Floating Rate Capital Trading Up 0.2 %

Shares of PennantPark Floating Rate Capital stock traded up $0.02 during trading hours on Friday, hitting $11.28. The company’s stock had a trading volume of 1,642,779 shares, compared to its average volume of 1,179,101. PennantPark Floating Rate Capital Ltd. has a twelve month low of $9.69 and a twelve month high of $12.63. The firm has a fifty day moving average of $11.32 and a 200-day moving average of $11.39. The stock has a market cap of $752.69 million, a price-to-earnings ratio of 7.62 and a beta of 1.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.36 and a current ratio of 0.36.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 10.90%. The ex-dividend date of this dividend is Tuesday, May 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 83.11%.

Analysts Set New Price Targets

Separately, JMP Securities reissued a “market outperform” rating and set a $12.50 price objective on shares of PennantPark Floating Rate Capital in a research note on Tuesday, March 26th.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several large investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of PennantPark Floating Rate Capital by 1,110.0% in the 4th quarter. International Assets Investment Management LLC now owns 287,738 shares of the asset manager’s stock valued at $3,482,000 after buying an additional 263,958 shares during the period. Toroso Investments LLC lifted its position in shares of PennantPark Floating Rate Capital by 6.4% during the third quarter. Toroso Investments LLC now owns 77,596 shares of the asset manager’s stock worth $827,000 after purchasing an additional 4,700 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of PennantPark Floating Rate Capital by 3.8% in the fourth quarter. Sound Income Strategies LLC now owns 3,246,302 shares of the asset manager’s stock valued at $39,280,000 after purchasing an additional 118,587 shares during the period. NewEdge Wealth LLC acquired a new position in shares of PennantPark Floating Rate Capital in the fourth quarter valued at approximately $3,741,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of PennantPark Floating Rate Capital by 29.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,794 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 3,555 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

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.