Stephens Inc. AR Takes Position in Pennantpark Floating Rate Capital Ltd (PFLT)

Stephens Inc. AR purchased a new position in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,997 shares of the asset manager’s stock, valued at approximately $127,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC bought a new position in shares of Pennantpark Floating Rate Capital in the fourth quarter valued at $48,000. Stratos Wealth Partners LTD. bought a new position in shares of Pennantpark Floating Rate Capital in the third quarter valued at $113,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Pennantpark Floating Rate Capital in the third quarter valued at $266,000. Standard Life Aberdeen plc bought a new position in shares of Pennantpark Floating Rate Capital in the third quarter valued at $278,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Pennantpark Floating Rate Capital by 11.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,840 shares of the asset manager’s stock valued at $322,000 after buying an additional 2,881 shares in the last quarter. 36.00% of the stock is owned by institutional investors.

PFLT stock remained flat at $$12.91 during midday trading on Friday. 1,100 shares of the company’s stock were exchanged, compared to its average volume of 103,669. Pennantpark Floating Rate Capital Ltd has a 1 year low of $11.05 and a 1 year high of $14.12. The company has a market capitalization of $500.52 million, a PE ratio of 12.18 and a beta of 0.72.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. Pennantpark Floating Rate Capital had a net margin of 45.40% and a return on equity of 8.24%. The firm had revenue of $23.18 million during the quarter, compared to analysts’ expectations of $22.06 million. As a group, analysts expect that Pennantpark Floating Rate Capital Ltd will post 1.2 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Wednesday, March 20th will be given a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 8.83%. This is a boost from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, March 19th. Pennantpark Floating Rate Capital’s payout ratio is 71.70%.

Several equities analysts recently weighed in on PFLT shares. LADENBURG THALM/SH SH raised shares of Pennantpark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Friday, November 16th. Zacks Investment Research raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, November 20th. BidaskClub raised shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Finally, Maxim Group reissued a “buy” rating and issued a $14.50 target price on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.50.

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About Pennantpark Floating Rate Capital

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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Institutional Ownership by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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