PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 432,287 shares of the asset manager's stock after purchasing an additional 73,365 shares during the period. LPL Financial LLC owned approximately 0.52% of PennantPark Floating Rate Capital worth $4,725,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its position in PennantPark Floating Rate Capital by 12.0% during the fourth 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. 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 valued at $2,913,000 after acquiring an additional 105,855 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in PennantPark Floating Rate Capital in the 4th quarter valued at $283,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in PennantPark Floating Rate Capital in the fourth quarter valued at about $131,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $1,046,000. Institutional investors and hedge funds own 19.77% of the company's stock.

PennantPark Floating Rate Capital Stock Up 1.4 %

PFLT traded up $0.14 on Tuesday, reaching $9.67. The company's stock had a trading volume of 226,050 shares, compared to its average volume of 1,009,464. PennantPark Floating Rate Capital Ltd. has a 1 year low of $8.82 and a 1 year high of $12.02. The business's 50 day moving average is $10.88 and its 200 day moving average is $11.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market cap of $850.18 million, a price-to-earnings ratio of 6.90 and a beta of 1.30.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 12.73%. The ex-dividend date is Tuesday, April 15th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is currently 87.86%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PFLT shares. Raymond James started coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods dropped their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded shares of PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a research note on Saturday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.67.

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.