PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Director Jose A. Briones Buys 885 Shares

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Free Report) Director Jose A. Briones bought 885 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $11.33 per share, with a total value of $10,027.05. Following the purchase, the director now owns 317,738 shares of the company’s stock, valued at approximately $3,599,971.54. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PennantPark Floating Rate Capital Trading Up 0.1 %

Shares of PennantPark Floating Rate Capital stock opened at $11.40 on Tuesday. The company has a fifty day simple moving average of $11.34 and a 200-day simple moving average of $11.45. PennantPark Floating Rate Capital Ltd. has a 12-month low of $9.69 and a 12-month high of $12.63. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.71. The stock has a market cap of $760.72 million, a price-to-earnings ratio of 8.63 and a beta of 1.65.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). PennantPark Floating Rate Capital had a net margin of 55.99% and a return on equity of 11.44%. The company had revenue of $44.35 million during the quarter, compared to analyst estimates of $40.24 million. On average, equities analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.3 EPS for the current fiscal year.

PennantPark Floating Rate Capital Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 10.79%. The ex-dividend date of this dividend was Tuesday, May 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 83.11%.

Analyst Ratings Changes

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

Get Our Latest Analysis on PFLT

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Several large investors have recently modified their holdings of PFLT. NewEdge Wealth LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $3,741,000. International Assets Investment Management LLC increased its stake in PennantPark Floating Rate Capital by 1,110.0% in the fourth quarter. International Assets Investment Management LLC now owns 287,738 shares of the asset manager’s stock valued at $3,482,000 after purchasing an additional 263,958 shares during the period. Sound Income Strategies LLC raised its holdings in shares of PennantPark Floating Rate Capital by 6.2% in the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager’s stock valued at $39,222,000 after buying an additional 200,250 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of PennantPark Floating Rate Capital by 25.8% during the third quarter. Van ECK Associates Corp now owns 913,933 shares of the asset manager’s stock worth $9,743,000 after buying an additional 187,337 shares during the period. Finally, PFG Investments LLC purchased a new position in shares of PennantPark Floating Rate Capital during the first quarter worth about $1,159,000. 19.77% of the stock is owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Company Profile

(Get Free Report)

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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