PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Position Increased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 1,110.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,738 shares of the asset manager’s stock after purchasing an additional 263,958 shares during the period. International Assets Investment Management LLC’s holdings in PennantPark Floating Rate Capital were worth $3,482,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PFLT. JPMorgan Chase & Co. increased its stake in PennantPark Floating Rate Capital by 108.8% during 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. HighTower Advisors LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 4.7% during the first quarter. HighTower Advisors LLC now owns 122,368 shares of the asset manager’s stock valued at $1,654,000 after acquiring an additional 5,513 shares during the period. Merit Financial Group LLC acquired a new position in shares of PennantPark Floating Rate Capital during the first quarter valued at $203,000. UBS Group AG boosted its holdings in shares of PennantPark Floating Rate Capital by 12.3% during the first quarter. UBS Group AG now owns 53,955 shares of the asset manager’s stock valued at $729,000 after acquiring an additional 5,930 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of PennantPark Floating Rate Capital by 11.0% during the first quarter. Royal Bank of Canada now owns 27,452 shares of the asset manager’s stock valued at $371,000 after acquiring an additional 2,730 shares during the period. Institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

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

PennantPark Floating Rate Capital Stock Performance

PFLT stock opened at $11.11 on Thursday. The company has a market capitalization of $684.71 million, a P/E ratio of 9.92 and a beta of 1.68. The company has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $11.23. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $12.63. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $37.97 million during the quarter, compared to the consensus estimate of $35.03 million. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. Sell-side analysts predict that PennantPark Floating Rate Capital Ltd. will post 1.29 earnings per share for the current fiscal year.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 11.07%. The ex-dividend date of this dividend is Friday, April 12th. PennantPark Floating Rate Capital’s payout ratio is currently 109.82%.

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.