PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) to Issue $0.08 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) declared a monthly dividend on Tuesday, June 2nd. Stockholders of record on Monday, June 15th will be given a dividend of 0.0833 per share on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Monday, June 15th.

PennantPark Floating Rate Capital has raised its dividend by an average of 0.0%annually over the last three years.

PennantPark Floating Rate Capital Stock Up 0.0%

PennantPark Floating Rate Capital stock opened at $8.33 on Wednesday. The stock has a market cap of $826.70 million, a PE ratio of 13.44 and a beta of 0.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.18 and a current ratio of 0.18. PennantPark Floating Rate Capital has a one year low of $7.68 and a one year high of $10.88. The stock has a fifty day moving average of $8.45 and a 200 day moving average of $8.83.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm 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%. As a group, sell-side analysts predict that PennantPark Floating Rate Capital will post 1.08 EPS for the current year.

Insider Buying and Selling at PennantPark Floating Rate Capital

In other news, CFO Richard T. Allorto, Jr. bought 15,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $8.15 per share, for a total transaction of $122,250.00. Following the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at $203,750. This represents a 150.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose A. Briones purchased 5,770 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $8.67 per share, with a total value of $50,025.90. Following the completion of the purchase, the director owned 348,083 shares of the company’s stock, valued at $3,017,879.61. The trade was a 1.69% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC raised its stake in shares of PennantPark Floating Rate Capital by 12.4% in the fourth quarter. Sound Income Strategies LLC now owns 4,643,958 shares of the company’s stock worth $44,257,000 after purchasing an additional 512,528 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of PennantPark Floating Rate Capital by 7.4% in the third quarter. Van ECK Associates Corp now owns 2,533,205 shares of the company’s stock worth $22,520,000 after purchasing an additional 174,630 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of PennantPark Floating Rate Capital by 4,538.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 185,546 shares of the company’s stock worth $1,768,000 after purchasing an additional 181,546 shares during the last quarter. UBS Group AG raised its holdings in shares of PennantPark Floating Rate Capital by 5.5% during the fourth quarter. UBS Group AG now owns 1,367,442 shares of the company’s stock worth $12,676,000 after purchasing an additional 71,372 shares during the last quarter. Finally, Krilogy Financial LLC raised its holdings in shares of PennantPark Floating Rate Capital by 693.2% during the fourth quarter. Krilogy Financial LLC now owns 123,880 shares of the company’s stock worth $1,173,000 after purchasing an additional 108,263 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About PennantPark Floating Rate Capital

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.