MGO One Seven LLC purchased a new stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,400 shares of the asset manager's stock, valued at approximately $726,000. MGO One Seven LLC owned 0.08% of PennantPark Floating Rate Capital as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in PennantPark Floating Rate Capital during the 3rd quarter valued at about $39,000. Tidal Investments LLC raised its holdings in shares of PennantPark Floating Rate Capital by 7.4% during the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager's stock valued at $1,169,000 after buying an additional 6,966 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager's stock worth $2,913,000 after buying an additional 105,855 shares during the period. Graypoint LLC grew its holdings in PennantPark Floating Rate Capital by 2.7% in the 4th quarter. Graypoint LLC now owns 71,156 shares of the asset manager's stock worth $778,000 after buying an additional 1,897 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in PennantPark Floating Rate Capital by 12.0% in 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 acquiring an additional 356,781 shares during the period. Institutional investors own 19.77% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Sunday, April 20th. Keefe, Bruyette & Woods reduced their price target on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group decreased their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.38.
View Our Latest Research Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Price Performance
Shares of PennantPark Floating Rate Capital stock opened at $10.15 on Friday. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $12.02. 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 company's 50-day moving average price is $10.63 and its two-hundred day moving average price is $10.97. The stock has a market cap of $892.31 million, a PE ratio of 7.25 and a beta of 1.30.
PennantPark Floating Rate Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 12.12%. The ex-dividend date of this dividend is Tuesday, April 15th. PennantPark Floating Rate Capital's payout ratio is 87.86%.
About PennantPark Floating Rate Capital
(
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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