Walkner Condon Financial Advisors LLC Invests $191,000 in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Walkner Condon Financial Advisors LLC acquired a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,500 shares of the asset manager’s stock, valued at approximately $191,000.

Several other institutional investors have also recently made changes to their positions in the business. Sound Income Strategies LLC lifted its stake in shares of PennantPark Floating Rate Capital by 12.0% in the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after purchasing an additional 356,781 shares during the period. Van ECK Associates Corp lifted its stake in shares of PennantPark Floating Rate Capital by 10.4% in the 4th quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock worth $21,704,000 after purchasing an additional 187,465 shares during the period. Strategic Financial Concepts LLC lifted its stake in shares of PennantPark Floating Rate Capital by 1,080.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after purchasing an additional 662,266 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of PennantPark Floating Rate Capital by 9.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 281,626 shares of the asset manager’s stock worth $3,258,000 after purchasing an additional 23,836 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after purchasing an additional 105,855 shares during the period. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

NASDAQ PFLT opened at $11.18 on Friday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02. The stock has a market cap of $930.10 million, a price-to-earnings ratio of 7.81 and a beta of 1.65. The company’s 50 day moving average is $11.03 and its two-hundred day moving average is $11.20. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date of this dividend is Tuesday, February 18th. PennantPark Floating Rate Capital’s payout ratio is 86.01%.

Wall Street Analyst Weigh In

PFLT has been the topic of several recent research reports. Raymond James initiated coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating on the stock. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.