Connor Clark & Lunn Investment Management Ltd. purchased a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 95,680 shares of the asset manager's stock, valued at approximately $1,046,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of PennantPark Floating Rate Capital as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter worth $39,000. Investment Partners LTD. bought a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at about $109,000. Sigma Planning Corp purchased a new position in PennantPark Floating Rate Capital in the fourth quarter worth about $119,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $131,000. Finally, Blue Trust Inc. purchased a new stake in PennantPark Floating Rate Capital during the fourth quarter valued at approximately $136,000. Institutional investors own 19.77% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. StockNews.com cut PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Wednesday, March 19th. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a "market perform" rating for the company.
Read Our Latest Research Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Trading Up 0.5 %
PennantPark Floating Rate Capital stock traded up $0.06 during midday trading on Monday, reaching $11.24. The stock had a trading volume of 860,904 shares, compared to its average volume of 920,718. PennantPark Floating Rate Capital Ltd. has a 52-week low of $10.28 and a 52-week high of $12.02. The company has a fifty day moving average of $11.15 and a 200 day moving average of $11.21. The firm has a market cap of $988.19 million, a price-to-earnings ratio of 8.03 and a beta of 1.67. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.
PennantPark Floating Rate Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.1025 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a yield of 10.95%. PennantPark Floating Rate Capital's payout ratio is 87.86%.
PennantPark Floating Rate Capital Profile
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Free Report)
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.
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