Wedbush Securities Inc. Has $843,000 Stock Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Wedbush Securities Inc. raised its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 39.2% in the second quarter, HoldingsChannel reports. The fund owned 73,079 shares of the asset manager’s stock after purchasing an additional 20,571 shares during the quarter. Wedbush Securities Inc.’s holdings in PennantPark Floating Rate Capital were worth $843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 1,151.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock worth $81,000 after purchasing an additional 642,706 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of PennantPark Floating Rate Capital by 27.0% in the second quarter. Van ECK Associates Corp now owns 1,467,534 shares of the asset manager’s stock valued at $16,936,000 after buying an additional 312,413 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of PennantPark Floating Rate Capital by 6.2% during the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager’s stock valued at $39,222,000 after buying an additional 200,250 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of PennantPark Floating Rate Capital during the first quarter worth about $498,000. Finally, Prevail Innovative Wealth Advisors LLC raised its holdings in shares of PennantPark Floating Rate Capital by 22.7% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 208,471 shares of the asset manager’s stock worth $2,522,000 after acquiring an additional 38,626 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

PFLT has been the subject of a number of recent research reports. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, August 12th. StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, JMP Securities cut their price objective on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th.

PennantPark Floating Rate Capital Stock Performance

PFLT stock opened at $11.46 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The firm has a market cap of $764.70 million, a PE ratio of 7.74 and a beta of 1.68. The business has a 50 day moving average of $11.30 and a 200-day moving average of $11.33. PennantPark Floating Rate Capital Ltd. has a 12-month low of $9.69 and a 12-month high of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The business had revenue of $48.51 million during the quarter, compared to the consensus estimate of $47.63 million. PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. During the same quarter last year, the company earned $0.36 EPS. As a group, sell-side analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.28 earnings per share for the current year.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 10.73%. The ex-dividend date is Monday, September 16th. PennantPark Floating Rate Capital’s dividend payout ratio is 83.11%.

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.