Advisors Asset Management Inc. Increases Stock Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Advisors Asset Management Inc. increased its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,160 shares of the asset manager's stock after acquiring an additional 30,534 shares during the quarter. Advisors Asset Management Inc. owned about 0.38% of PennantPark Floating Rate Capital worth $3,412,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PFLT. Wilmington Savings Fund Society FSB acquired a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth approximately $39,000. Investment Partners LTD. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $109,000. Sigma Planning Corp purchased a new stake in PennantPark Floating Rate Capital in 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 worth $131,000. Finally, Blue Trust Inc. purchased a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth $136,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports 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, March 19th. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a "market perform" rating for the company.

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PennantPark Floating Rate Capital Trading Up 0.8 %

PFLT traded up $0.09 on Tuesday, hitting $11.34. The company had a trading volume of 866,816 shares, compared to its average volume of 1,299,888. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a market cap of $997.42 million, a P/E ratio of 8.10 and a beta of 1.67. The company's fifty day moving average price is $11.16 and its 200 day moving average price is $11.21. PennantPark Floating Rate Capital Ltd. has a 1 year low of $10.28 and a 1 year high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1025 per share. The ex-dividend date is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.85%. PennantPark Floating Rate Capital's payout ratio is currently 87.86%.

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.