Muzinich & Co. Inc. Reduces Stake in Pennantpark Floating Rate Capital Ltd (PFLT)

Muzinich & Co. Inc. decreased its holdings in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,328,188 shares of the asset manager’s stock after selling 108,548 shares during the period. Pennantpark Floating Rate Capital comprises 2.4% of Muzinich & Co. Inc.’s portfolio, making the stock its 14th largest holding. Muzinich & Co. Inc.’s holdings in Pennantpark Floating Rate Capital were worth $18,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC increased its holdings in shares of Pennantpark Floating Rate Capital by 94.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,767 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 4,267 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Pennantpark Floating Rate Capital in the 3rd quarter valued at about $147,000. Silver Capital Management LLC acquired a new position in shares of Pennantpark Floating Rate Capital in the 4th quarter valued at about $214,000. California Public Employees Retirement System increased its holdings in shares of Pennantpark Floating Rate Capital by 9.4% in the 2nd quarter. California Public Employees Retirement System now owns 25,600 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 2,200 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in shares of Pennantpark Floating Rate Capital by 25.1% in the 4th quarter. Wedbush Securities Inc. now owns 26,478 shares of the asset manager’s stock valued at $363,000 after purchasing an additional 5,312 shares during the period. Institutional investors own 29.65% of the company’s stock.

A number of brokerages have recently weighed in on PFLT. Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. BidaskClub upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. ValuEngine upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $15.00 target price on Pennantpark Floating Rate Capital and gave the company a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $14.95.

In other news, insider Arthur H. Penn purchased 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $12.57 per share, with a total value of $125,700.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Arthur H. Penn purchased 9,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $12.98 per share, with a total value of $116,820.00. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Shares of Pennantpark Floating Rate Capital Ltd (PFLT) opened at $12.69 on Thursday. The company has a market capitalization of $493.18, a P/E ratio of 11.67 and a beta of 0.54. Pennantpark Floating Rate Capital Ltd has a 12 month low of $12.00 and a 12 month high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The firm had revenue of $14.84 million during the quarter, compared to the consensus estimate of $15.29 million. Pennantpark Floating Rate Capital had a net margin of 47.64% and a return on equity of 7.49%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. equities analysts anticipate that Pennantpark Floating Rate Capital Ltd will post 0.74 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 16th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.14 annualized dividend and a dividend yield of 8.98%. Pennantpark Floating Rate Capital’s payout ratio is 123.91%.

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Pennantpark Floating Rate Capital 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.

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

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