Invesco Ltd. Buys Shares of 963,709 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Invesco Ltd. purchased a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 963,709 shares of the asset manager’s stock, valued at approximately $10,533,000. Invesco Ltd. owned about 1.16% of PennantPark Floating Rate Capital at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in PennantPark Floating Rate Capital in the third quarter valued at about $39,000. Investment Partners LTD. acquired a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth $109,000. Sigma Planning Corp bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $131,000. Finally, Blue Trust Inc. bought a new stake in PennantPark Floating Rate Capital in the fourth quarter worth $136,000. 19.77% of the stock is owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Trading Up 1.5 %

Shares of PennantPark Floating Rate Capital stock opened at $9.60 on Wednesday. The company has a market cap of $843.94 million, a price-to-earnings ratio of 6.85 and a beta of 1.30. PennantPark Floating Rate Capital Ltd. has a 1 year low of $8.82 and a 1 year high of $12.02. The company’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $11.00. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 12.82%. The ex-dividend date of this dividend is Tuesday, April 15th. PennantPark Floating Rate Capital’s payout ratio is presently 87.86%.

Analyst Ratings Changes

A number of brokerages have weighed in on PFLT. Keefe, Bruyette & Woods reduced their price target on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Sunday. Finally, UBS Group reduced their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.38.

About PennantPark Floating Rate Capital

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.