Confluence Investment Management LLC raised its holdings in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,761 shares of the asset manager’s stock after buying an additional 2,606 shares during the period. Confluence Investment Management LLC owned about 0.36% of Pennantpark Floating Rate Capital worth $1,803,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PFLT. JPMorgan Chase & Co. raised its stake in Pennantpark Floating Rate Capital by 48.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 42,835 shares of the asset manager’s stock valued at $563,000 after purchasing an additional 14,000 shares during the last quarter. BlackRock Inc. raised its stake in Pennantpark Floating Rate Capital by 8.6% in the 3rd quarter. BlackRock Inc. now owns 185,987 shares of the asset manager’s stock valued at $2,446,000 after purchasing an additional 14,662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pennantpark Floating Rate Capital in the 3rd quarter valued at about $266,000. Advisors Asset Management Inc. raised its stake in Pennantpark Floating Rate Capital by 12.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 393,175 shares of the asset manager’s stock valued at $5,170,000 after purchasing an additional 42,346 shares during the last quarter. Finally, Standard Life Aberdeen plc acquired a new position in Pennantpark Floating Rate Capital in the 3rd quarter valued at about $278,000. Hedge funds and other institutional investors own 36.24% of the company’s stock.

Shares of PFLT stock opened at $13.00 on Thursday. Pennantpark Floating Rate Capital Ltd has a twelve month low of $11.05 and a twelve month high of $14.12. The stock has a market capitalization of $503.24 million, a P/E ratio of 12.26 and a beta of 0.71.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Wednesday, February 6th. The asset manager reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Pennantpark Floating Rate Capital had a net margin of 45.40% and a return on equity of 8.24%. The firm had revenue of $23.18 million during the quarter, compared to the consensus estimate of $22.06 million. Equities analysts expect that Pennantpark Floating Rate Capital Ltd will post 1.2 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be issued a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 8.77%. The ex-dividend date of this dividend is Tuesday, April 16th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 71.70%.

Several research analysts recently weighed in on PFLT shares. BidaskClub downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Maxim Group reissued a “buy” rating and issued a $14.50 target price on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $14.50.

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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.

See Also: Systematic Risk

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

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