26,300 Shares in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,300 shares of the asset manager’s stock, valued at approximately $302,000. Banque Pictet & Cie SA owned approximately 0.06% of PennantPark Floating Rate Capital as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its stake in PennantPark Floating Rate Capital by 53.6% in the first quarter. Van ECK Associates Corp now owns 912,403 shares of the asset manager’s stock valued at $12,326,000 after buying an additional 318,567 shares during the period. Sound Income Strategies LLC raised its stake in PennantPark Floating Rate Capital by 2.9% in the second quarter. Sound Income Strategies LLC now owns 2,451,644 shares of the asset manager’s stock valued at $28,145,000 after buying an additional 68,304 shares during the period. Pictet North America Advisors SA bought a new stake in PennantPark Floating Rate Capital in the second quarter valued at approximately $302,000. Advisors Asset Management Inc. raised its stake in PennantPark Floating Rate Capital by 12.5% in the first quarter. Advisors Asset Management Inc. now owns 234,366 shares of the asset manager’s stock valued at $3,166,000 after buying an additional 25,963 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of PennantPark Floating Rate Capital by 108.8% in the first quarter. JPMorgan Chase & Co. now owns 36,155 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 18,838 shares during the last quarter. Institutional investors own 20.61% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

PennantPark Floating Rate Capital stock opened at $11.43 on Friday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $9.43 and a 12 month high of $14.38. The stock’s 50 day moving average is $10.91 and its 200-day moving average is $11.67. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $518.35 million, a price-to-earnings ratio of 21.17 and a beta of 1.69.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 9.97%. The ex-dividend date is Wednesday, November 16th. PennantPark Floating Rate Capital’s payout ratio is 211.11%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on PennantPark Floating Rate Capital in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock.

PennantPark Floating Rate Capital Profile

(Get Rating)

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.

Read More

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

Receive News & Ratings for PennantPark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.