PennantPark Floating Rate Capital (NYSE:PFLT) Director Jose Briones Acquires 5,770 Shares of Stock

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Director Jose Briones purchased 5,770 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $8.67 per share, for a total transaction of $50,025.90. Following the completion of the purchase, the director owned 348,083 shares of the company’s stock, valued at approximately $3,017,879.61. This trade represents a 1.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT stock opened at $8.76 on Wednesday. The firm has a 50 day moving average of $8.42 and a 200-day moving average of $8.92. The company has a market cap of $868.77 million, a price-to-earnings ratio of 14.12 and a beta of 0.78. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 0.92. PennantPark Floating Rate Capital Ltd. has a 52 week low of $7.68 and a 52 week high of $10.88.

PennantPark Floating Rate Capital (NYSE:PFLT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $44.81 million for the quarter. PennantPark Floating Rate Capital had a net margin of 23.08% and a return on equity of 9.95%. On average, equities analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.13 earnings per share for the current year.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 14.0%. PennantPark Floating Rate Capital’s payout ratio is currently 198.39%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Institutional investors have recently added to or reduced their stakes in the company. Sovran Advisors LLC increased its position in shares of PennantPark Floating Rate Capital by 3.2% during the 3rd quarter. Sovran Advisors LLC now owns 35,274 shares of the company’s stock valued at $320,000 after purchasing an additional 1,090 shares during the last quarter. Global Retirement Partners LLC raised its holdings in PennantPark Floating Rate Capital by 32.1% during the 3rd quarter. Global Retirement Partners LLC now owns 5,188 shares of the company’s stock valued at $46,000 after acquiring an additional 1,260 shares during the period. Cetera Investment Advisers lifted its position in shares of PennantPark Floating Rate Capital by 2.1% during the second quarter. Cetera Investment Advisers now owns 63,704 shares of the company’s stock worth $658,000 after acquiring an additional 1,329 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 1.1% in the fourth quarter. PFG Investments LLC now owns 123,507 shares of the company’s stock worth $1,145,000 after acquiring an additional 1,372 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in shares of PennantPark Floating Rate Capital by 7.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 21,201 shares of the company’s stock valued at $197,000 after purchasing an additional 1,547 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PFLT shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Friday. Citizens Jmp decreased their price target on shares of PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Wall Street Zen upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Maxim Group set a $10.50 target price on shares of PennantPark Floating Rate Capital in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, PennantPark Floating Rate Capital has a consensus rating of “Moderate Buy” and an average price target of $10.20.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.