Connor Clark & Lunn Investment Management Ltd. Invests $1.05 Million in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95,680 shares of the asset manager’s stock, valued at approximately $1,046,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MQS Management LLC bought a new position in PennantPark Floating Rate Capital in the fourth quarter valued at approximately $185,000. Raymond James Financial Inc. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $283,000. Synergy Investment Management LLC acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $227,000. Investment Partners LTD. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $109,000. Finally, NewEdge Wealth LLC increased its holdings in PennantPark Floating Rate Capital by 0.6% during the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock worth $3,152,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Down 0.0 %

PFLT stock opened at $11.12 on Friday. The stock has a market capitalization of $977.63 million, a P/E ratio of 7.94 and a beta of 1.67. 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 Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02. The firm has a 50-day moving average price of $11.15 and a 200-day moving average price of $11.22.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.1025 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.07%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 87.86%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PFLT shares. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating on the stock. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday.

PennantPark Floating Rate Capital Company 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.