Global Retirement Partners LLC Sells 49,987 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Global Retirement Partners LLC lessened its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 72.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,013 shares of the asset manager’s stock after selling 49,987 shares during the period. Global Retirement Partners LLC’s holdings in PennantPark Floating Rate Capital were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC raised its stake in PennantPark Floating Rate Capital by 1,080.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock valued at $7,909,000 after purchasing an additional 662,266 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of PennantPark Floating Rate Capital by 12.0% during the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after buying an additional 356,781 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of PennantPark Floating Rate Capital by 22.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after acquiring an additional 330,731 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PennantPark Floating Rate Capital by 72.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after acquiring an additional 105,855 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new position in PennantPark Floating Rate Capital in the third quarter worth $476,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Price Performance

PFLT stock opened at $11.21 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market cap of $985.55 million, a P/E ratio of 8.00 and a beta of 1.65. The firm’s fifty day moving average is $11.07 and its 200 day moving average is $11.22. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a yield of 10.98%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PFLT shares. StockNews.com downgraded 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 report on Friday, December 20th. They set a “market perform” rating on the stock.

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.