Strategic Financial Concepts LLC grew its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 1,080.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 723,566 shares of the asset manager's stock after acquiring an additional 662,266 shares during the quarter. Strategic Financial Concepts LLC owned about 0.87% of PennantPark Floating Rate Capital worth $7,909,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PFLT. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter worth approximately $39,000. Calton & Associates Inc. acquired a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $119,000. Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter worth $120,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter worth $131,000. Finally, Paloma Partners Management Co acquired a new stake in shares of PennantPark Floating Rate Capital in the third quarter worth $174,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.
PennantPark Floating Rate Capital Trading Down 1.6 %
Shares of PFLT traded down $0.18 during trading hours on Wednesday, reaching $11.22. The stock had a trading volume of 2,198,085 shares, compared to its average volume of 1,046,764. The company has a market cap of $933.76 million, a P/E ratio of 7.85 and a beta of 1.65. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.02. The firm has a 50-day moving average of $11.03 and a 200 day moving average of $11.20.
PennantPark Floating Rate Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 10.96%. PennantPark Floating Rate Capital's dividend payout ratio is presently 86.01%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PFLT. StockNews.com cut PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. Raymond James began coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a "market perform" rating on the stock.
Read Our Latest Analysis on PFLT
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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