Advisors Asset Management Inc. Purchases 37,231 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Advisors Asset Management Inc. increased its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 12.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 348,288 shares of the asset manager’s stock after buying an additional 37,231 shares during the period. Advisors Asset Management Inc. owned 1.07% of PennantPark Floating Rate Capital worth $5,043,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Morgan Stanley lifted its stake 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. Goldman Sachs Group Inc. increased its position in PennantPark Floating Rate Capital by 291.9% during the first quarter. Goldman Sachs Group Inc. now owns 39,485 shares of the asset manager’s stock worth $550,000 after purchasing an additional 29,410 shares during the last quarter. Bank of Montreal Can increased its position in PennantPark Floating Rate Capital by 2,900.0% during the second quarter. Bank of Montreal Can now owns 30,000 shares of the asset manager’s stock worth $423,000 after purchasing an additional 29,000 shares during the last quarter. LGT Capital Partners LTD. increased its position in PennantPark Floating Rate Capital by 3.8% during the second quarter. LGT Capital Partners LTD. now owns 602,271 shares of the asset manager’s stock worth $8,498,000 after purchasing an additional 22,271 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in PennantPark Floating Rate Capital by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 422,596 shares of the asset manager’s stock worth $5,963,000 after purchasing an additional 5,761 shares during the last quarter. 30.70% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on PFLT. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, September 26th. Maxim Group reiterated a “buy” rating and set a $14.75 price target on shares of PennantPark Floating Rate Capital in a research report on Wednesday, August 9th. ValuEngine raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods set a $16.00 price objective on shares of PennantPark Floating Rate Capital and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, BidaskClub raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $15.08.

Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ PFLT) traded up $0.03 during trading hours on Wednesday, hitting $13.89. 144,010 shares of the stock traded hands, compared to its average volume of 218,328. The stock has a market cap of $532.18, a P/E ratio of 12.57 and a beta of 0.59. PennantPark Floating Rate Capital Ltd. has a twelve month low of $13.24 and a twelve month high of $14.65.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Thursday, November 30th. The asset manager reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $18.45 million during the quarter, compared to analyst estimates of $19.40 million. PennantPark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. sell-side analysts predict that PennantPark Floating Rate Capital Ltd. will post 1.1 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 26th will be issued a $0.095 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.21%. PennantPark Floating Rate Capital’s payout ratio is 95.00%.

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PennantPark Floating Rate Capital Company Profile

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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