15,687 Shares in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC acquired a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 15,687 shares of the asset manager’s stock, valued at approximately $171,000.

Several other hedge funds also recently bought and sold shares of the business. Sound Income Strategies LLC boosted its stake in shares of PennantPark Floating Rate Capital by 12.0% during the fourth quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after purchasing an additional 356,781 shares during the period. JPMorgan Chase & Co. boosted its position in PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock valued at $2,913,000 after buying an additional 105,855 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in PennantPark Floating Rate Capital in the 4th quarter worth about $131,000. Blue Trust Inc. purchased a new position in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $136,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter valued at approximately $1,046,000. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

NASDAQ PFLT opened at $11.13 on Wednesday. The company has a market cap of $978.51 million, a PE ratio of 7.95 and a beta of 1.67. PennantPark Floating Rate Capital Ltd. has a 52-week low of $10.28 and a 52-week high of $12.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm’s 50 day moving average price is $11.17 and its 200-day moving average price is $11.20.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.1025 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.06%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 87.86%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Raymond James initiated coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th.

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.