Raymond James Financial Services Advisors Inc. Has $199,000 Position in PennantPark Floating Rate Capital Ltd. (PFLT)

Raymond James Financial Services Advisors Inc. maintained its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,133 shares of the asset manager’s stock at the close of the second quarter. Raymond James Financial Services Advisors Inc.’s holdings in PennantPark Floating Rate Capital were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFLT. Muzinich & Co. Inc. lifted its position in shares of PennantPark Floating Rate Capital by 4.7% in the second quarter. Muzinich & Co. Inc. now owns 1,134,286 shares of the asset manager’s stock valued at $16,005,000 after acquiring an additional 50,565 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in shares of PennantPark Floating Rate Capital by 1.2% in the second quarter. Punch & Associates Investment Management Inc. now owns 763,910 shares of the asset manager’s stock worth $10,779,000 after buying an additional 9,074 shares in the last quarter. LGT Capital Partners LTD. lifted its position in shares of PennantPark Floating Rate Capital by 3.8% in the second quarter. LGT Capital Partners LTD. now owns 602,271 shares of the asset manager’s stock worth $8,498,000 after buying an additional 22,271 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of PennantPark Floating Rate Capital by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 422,596 shares of the asset manager’s stock worth $5,963,000 after buying an additional 5,761 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of PennantPark Floating Rate Capital by 1.4% in the first quarter. Morgan Stanley now owns 327,432 shares of the asset manager’s stock worth $4,564,000 after buying an additional 4,617 shares in the last quarter. Institutional investors own 30.48% of the company’s stock.

Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) opened at $13.90 on Tuesday. PennantPark Floating Rate Capital Ltd. has a 52 week low of $13.10 and a 52 week high of $14.65. The firm has a market capitalization of $453.42, a P/E ratio of 12.81 and a beta of 0.60.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.095 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.14 annualized dividend and a yield of 8.20%. PennantPark Floating Rate Capital’s payout ratio is currently 78.08%.

A number of research firms recently commented on PFLT. Keefe, Bruyette & Woods set a $16.00 target price on PennantPark Floating Rate Capital and gave the stock a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of PennantPark Floating Rate Capital in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.08.

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About PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

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

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