PennantPark Floating Rate Capital Ltd. $PFLT Shares Acquired by Muzinich & Co. Inc.

Muzinich & Co. Inc. grew its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 103.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,859 shares of the asset manager’s stock after acquiring an additional 53,204 shares during the period. PennantPark Floating Rate Capital comprises approximately 0.5% of Muzinich & Co. Inc.’s portfolio, making the stock its 25th largest position. Muzinich & Co. Inc.’s holdings in PennantPark Floating Rate Capital were worth $1,083,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC grew its stake in shares of PennantPark Floating Rate Capital by 8.9% in the second quarter. Sound Income Strategies LLC now owns 3,904,625 shares of the asset manager’s stock worth $40,335,000 after acquiring an additional 319,424 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of PennantPark Floating Rate Capital by 17.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,048 shares of the asset manager’s stock worth $661,000 after acquiring an additional 8,830 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of PennantPark Floating Rate Capital by 6.3% during the first quarter. Janney Montgomery Scott LLC now owns 43,716 shares of the asset manager’s stock worth $489,000 after purchasing an additional 2,579 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of PennantPark Floating Rate Capital by 94.5% during the first quarter. Cetera Investment Advisers now owns 62,375 shares of the asset manager’s stock worth $698,000 after purchasing an additional 30,313 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of PennantPark Floating Rate Capital during the first quarter worth $245,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFLT shares. UBS Group lowered their target price on shares of PennantPark Floating Rate Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and set a $10.50 target price for the company in a research note on Monday, October 6th. JMP Securities reiterated a “market outperform” rating and set a $11.00 target price on shares of PennantPark Floating Rate Capital in a research note on Wednesday, September 3rd. Finally, LADENBURG THALM/SH SH upgraded shares of PennantPark Floating Rate Capital to a “strong-buy” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PennantPark Floating Rate Capital has an average rating of “Moderate Buy” and an average price target of $10.67.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT opened at $9.20 on Thursday. PennantPark Floating Rate Capital Ltd. has a 1-year low of $8.40 and a 1-year high of $11.50. The stock has a market cap of $912.31 million, a PE ratio of 6.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a fifty day moving average price of $9.45 and a 200 day moving average price of $9.99.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a oct 25 dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a yield of 1,413.0%. PennantPark Floating Rate Capital’s payout ratio is 146.43%.

PennantPark Floating Rate Capital Company 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.