Quarry LP Has $40,000 Stock Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Quarry LP lifted its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 190.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,674 shares of the asset manager’s stock after buying an additional 2,408 shares during the period. Quarry LP’s holdings in PennantPark Floating Rate Capital were worth $40,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Wealth LLC grew its stake in shares of PennantPark Floating Rate Capital by 0.6% in the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock valued at $3,152,000 after buying an additional 1,700 shares in the last quarter. Graypoint LLC lifted its stake in PennantPark Floating Rate Capital by 2.7% in the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock valued at $778,000 after acquiring an additional 1,897 shares during the last quarter. Legal & General Group Plc grew its position in shares of PennantPark Floating Rate Capital by 0.4% in the 4th quarter. Legal & General Group Plc now owns 486,044 shares of the asset manager’s stock valued at $5,315,000 after acquiring an additional 2,081 shares during the period. PFG Investments LLC increased its stake in shares of PennantPark Floating Rate Capital by 2.0% during the 4th quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock worth $1,171,000 after purchasing an additional 2,118 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of PennantPark Floating Rate Capital by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 47,999 shares of the asset manager’s stock valued at $525,000 after purchasing an additional 2,890 shares during the period. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Up 2.0 %

Shares of PFLT stock opened at $10.17 on Friday. PennantPark Floating Rate Capital Ltd. has a 12-month low of $8.82 and a 12-month high of $12.02. The firm has a 50 day moving average price of $10.51 and a two-hundred day moving average price of $10.91. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $894.07 million, a PE ratio of 7.26 and a beta of 1.30.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a $0.1025 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 12.10%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFLT. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Sunday, April 20th. UBS Group reduced their target price on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price target on 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.38.

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.