UBS Asset Management Americas Inc. reduced its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 86.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,300 shares of the asset manager’s stock after selling 60,414 shares during the period. UBS Asset Management Americas Inc.’s holdings in PennantPark Floating Rate Capital were worth $130,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sheaff Brock Investment Advisors LLC boosted its stake in PennantPark Floating Rate Capital by 0.7% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 19,853 shares of the asset manager’s stock worth $277,000 after buying an additional 143 shares during the period. Wells Fargo & Company MN boosted its stake in shares of PennantPark Floating Rate Capital by 24.4% in the first quarter. Wells Fargo & Company MN now owns 50,088 shares of the asset manager’s stock valued at $699,000 after buying an additional 9,821 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in shares of PennantPark Floating Rate Capital by 11.7% in the first quarter. Texas Yale Capital Corp. now owns 73,494 shares of the asset manager’s stock valued at $1,025,000 after buying an additional 7,700 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of PennantPark Floating Rate Capital by 16.5% in the first quarter. Confluence Investment Management LLC now owns 181,236 shares of the asset manager’s stock valued at $2,526,000 after buying an additional 25,680 shares during the last quarter. Finally, West Family Investments Inc. boosted its stake in shares of PennantPark Floating Rate Capital by 19.2% in the first quarter. West Family Investments Inc. now owns 415,302 shares of the asset manager’s stock valued at $5,789,000 after buying an additional 66,925 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

Shares of PennantPark Floating Rate Capital Ltd. (PFLT) opened at 14.25 on Friday. The company’s 50 day moving average price is $14.19 and its 200 day moving average price is $13.96. PennantPark Floating Rate Capital Ltd. has a 12 month low of $12.21 and a 12 month high of $14.45.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Tuesday, May 9th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.01. The firm had revenue of $13.22 million for the quarter, compared to analyst estimates of $14.43 million. PennantPark Floating Rate Capital had a return on equity of 7.45% and a net margin of 87.29%. Equities analysts expect that PennantPark Floating Rate Capital Ltd. will post $1.10 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.095 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.14 annualized dividend and a yield of 8.00%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 68.26%.

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Several brokerages recently commented on PFLT. Zacks Investment Research cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, April 13th. BidaskClub cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Ladenburg Thalmann Financial Services upgraded PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 price target for the company in a research report on Thursday, May 11th. Finally, Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $15.00 to $15.50 in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. PennantPark Floating Rate Capital has a consensus rating of “Hold” and a consensus price target of $14.79.

About PennantPark Floating Rate Capital

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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