Strategic Financial Concepts LLC raised its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 1,080.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 723,566 shares of the asset manager's stock after purchasing an additional 662,266 shares during the period. Strategic Financial Concepts LLC owned 0.87% of PennantPark Floating Rate Capital worth $7,909,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital in the third quarter valued at $39,000. Calton & Associates Inc. bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth about $119,000. Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth about $120,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth about $131,000. Finally, Paloma Partners Management Co bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth about $174,000. 19.77% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on PFLT shares. Raymond James started coverage on shares of PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a "market perform" rating for the company. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th.
Get Our Latest Research Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital stock opened at $11.03 on Friday. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $10.28 and a fifty-two week high of $12.02. The stock has a market cap of $917.61 million, a PE ratio of 7.71 and a beta of 1.65. The firm's 50-day simple moving average is $11.01 and its 200 day simple moving average is $11.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18.
The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 11.16%. The ex-dividend date is Tuesday, February 18th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is presently 86.01%.
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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