PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,794 shares of the asset manager’s stock after purchasing an additional 3,555 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PennantPark Floating Rate Capital were worth $191,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CFO4Life Group LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $112,000. Calton & Associates Inc. acquired a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $130,000. Sigma Planning Corp raised its position in shares of PennantPark Floating Rate Capital by 8.3% in the 3rd quarter. Sigma Planning Corp now owns 18,616 shares of the asset manager’s stock valued at $198,000 after purchasing an additional 1,429 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of PennantPark Floating Rate Capital by 55.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,936 shares of the asset manager’s stock valued at $213,000 after purchasing an additional 7,138 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $223,000. 19.77% of the stock is owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT opened at $11.52 on Thursday. The company has a market cap of $709.98 million, a P/E ratio of 10.29 and a beta of 1.68. The stock has a fifty day moving average price of $11.29 and a 200 day moving average price of $11.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.19 and a quick ratio of 0.19. PennantPark Floating Rate Capital Ltd. has a 12 month low of $9.69 and a 12 month high of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $37.97 million during the quarter, compared to the consensus estimate of $35.03 million. PennantPark Floating Rate Capital had a return on equity of 11.83% and a net margin of 43.40%. On average, research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.29 earnings per share for the current year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Friday, April 12th. This represents a $1.23 dividend on an annualized basis and a yield of 10.68%. PennantPark Floating Rate Capital’s payout ratio is currently 109.82%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a report on Tuesday, March 26th.

PennantPark Floating Rate Capital Profile

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.