Sumitomo Mitsui Trust Holdings Inc. Sells 8,514 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,876 shares of the asset manager’s stock after selling 8,514 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PennantPark Floating Rate Capital were worth $676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CFO4Life Group LLC bought a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth about $112,000. Calton & Associates Inc. bought a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth about $130,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth about $130,000. Sigma Planning Corp lifted its position in PennantPark Floating Rate Capital by 8.3% in the 3rd quarter. Sigma Planning Corp now owns 18,616 shares of the asset manager’s stock valued at $198,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in PennantPark Floating Rate Capital by 55.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,936 shares of the asset manager’s stock valued at $213,000 after acquiring an additional 7,138 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $11.42 on Friday. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $12.63. The stock has a market cap of $703.81 million, a price-to-earnings ratio of 10.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s 50-day simple moving average is $11.30 and its 200 day simple moving average is $11.27.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $37.97 million during the quarter, compared to analyst estimates of $35.03 million. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. As a group, research analysts anticipate 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 company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.23 annualized dividend and a yield of 10.77%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 109.82%.

Wall Street Analysts Forecast Growth

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

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.