PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,025 shares of the asset manager’s stock after selling 5,779 shares during the quarter. Stifel Financial Corp owned 0.09% of PennantPark Floating Rate Capital worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graypoint LLC lifted its stake in shares of PennantPark Floating Rate Capital by 2.7% in the 2nd quarter. Graypoint LLC now owns 67,415 shares of the asset manager’s stock valued at $778,000 after purchasing an additional 1,785 shares in the last quarter. Quarry LP acquired a new position in PennantPark Floating Rate Capital during the second quarter valued at approximately $34,000. PFG Investments LLC grew its stake in PennantPark Floating Rate Capital by 3.0% during the second quarter. PFG Investments LLC now owns 104,886 shares of the asset manager’s stock worth $1,210,000 after buying an additional 3,051 shares during the period. International Assets Investment Management LLC purchased a new stake in PennantPark Floating Rate Capital during the second quarter worth approximately $41,000. Finally, UMB Bank n.a. acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth $63,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PFLT shares. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. Raymond James initiated coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $10.86 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $10.28 and a fifty-two week high of $12.63. The business has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $11.31. The firm has a market cap of $903.88 million, a PE ratio of 7.59 and a beta of 1.66.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date of this dividend is Monday, December 16th. PennantPark Floating Rate Capital’s payout ratio is currently 86.01%.

PennantPark Floating Rate Capital 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.