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

International Assets Investment Management LLC raised its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 1,110.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 287,738 shares of the asset manager’s stock after buying an additional 263,958 shares during the quarter. International Assets Investment Management LLC owned about 0.49% of PennantPark Floating Rate Capital worth $3,482,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of PFLT. Quarry LP acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at $34,000. Castleview Partners LLC acquired a new position in shares of PennantPark Floating Rate Capital during the 2nd quarter worth $38,000. Comerica Bank purchased a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at about $61,000. Citigroup Inc. purchased a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at about $75,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of PennantPark Floating Rate Capital in the 1st quarter valued at about $99,000. 19.77% of the stock is owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $11.11 on Thursday. The company has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $11.23. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $684.71 million, a PE ratio of 9.92 and a beta of 1.68. PennantPark Floating Rate Capital Ltd. has a 52-week low of $9.69 and a 52-week high of $12.63.

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

PennantPark Floating Rate Capital Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.