Cambridge Investment Research Advisors Inc. acquired a new stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,172 shares of the asset manager’s stock, valued at approximately $147,000.

A number of other hedge funds also recently modified their holdings of the business. Muzinich & Co. Inc. raised its position in PennantPark Floating Rate Capital by 4.7% during the second quarter. Muzinich & Co. Inc. now owns 1,134,286 shares of the asset manager’s stock valued at $16,005,000 after purchasing an additional 50,565 shares during the period. Punch & Associates Investment Management Inc. grew its stake in shares of PennantPark Floating Rate Capital by 1.2% during the second quarter. Punch & Associates Investment Management Inc. now owns 763,910 shares of the asset manager’s stock valued at $10,779,000 after buying an additional 9,074 shares during the last quarter. Morgan Stanley grew its stake in shares of PennantPark Floating Rate Capital by 1.4% during the first quarter. Morgan Stanley now owns 327,432 shares of the asset manager’s stock valued at $4,564,000 after buying an additional 4,617 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PennantPark Floating Rate Capital by 37.9% during the second quarter. Van ECK Associates Corp now owns 281,802 shares of the asset manager’s stock valued at $3,976,000 after buying an additional 77,397 shares during the last quarter. Finally, Greenwich Investment Management Inc. grew its stake in shares of PennantPark Floating Rate Capital by 0.4% during the second quarter. Greenwich Investment Management Inc. now owns 166,341 shares of the asset manager’s stock valued at $2,347,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 30.71% of the company’s stock.

A number of research firms have recently commented on PFLT. Keefe, Bruyette & Woods set a $16.00 target price on PennantPark Floating Rate Capital and gave the company a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research cut PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Maxim Group reaffirmed a “buy” rating and set a $14.75 target price on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.08.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) traded down $0.03 on Friday, hitting $13.99. The stock had a trading volume of 190,600 shares, compared to its average volume of 216,899. PennantPark Floating Rate Capital Ltd. has a 1 year low of $13.24 and a 1 year high of $14.65. The company has a market capitalization of $455.37, a PE ratio of 12.86 and a beta of 0.60.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Thursday, November 30th. The asset manager reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). PennantPark Floating Rate Capital had a return on equity of 7.26% and a net margin of 73.28%. The firm had revenue of $18.45 million during the quarter, compared to the consensus estimate of $19.40 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. research analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.14 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.14 annualized dividend and a yield of 8.15%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 78.08%.

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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.

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

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