10,271 Shares in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Bought by Calton & Associates Inc.

Calton & Associates Inc. purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,271 shares of the asset manager’s stock, valued at approximately $119,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position in PennantPark Floating Rate Capital by 11.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock worth $34,285,000 after buying an additional 306,690 shares in the last quarter. Van ECK Associates Corp lifted its position in PennantPark Floating Rate Capital by 13.1% during the 1st quarter. Van ECK Associates Corp now owns 1,155,121 shares of the asset manager’s stock worth $13,145,000 after buying an additional 133,600 shares in the last quarter. Millennium Management LLC lifted its position in PennantPark Floating Rate Capital by 391.3% during the 2nd quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock worth $9,046,000 after buying an additional 624,342 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in PennantPark Floating Rate Capital by 1,151.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock worth $81,000 after buying an additional 642,706 shares in the last quarter. Finally, Capstone Investment Advisors LLC lifted its position in PennantPark Floating Rate Capital by 9.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the asset manager’s stock worth $248,000 after buying an additional 1,800 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Down 3.7 %

Shares of PFLT stock opened at $11.46 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.22 and a current ratio of 0.22. The firm’s 50-day moving average is $11.45 and its 200-day moving average is $11.39. The stock has a market cap of $841.03 million, a price-to-earnings ratio of 7.07 and a beta of 1.68. PennantPark Floating Rate Capital Ltd. has a 52-week low of $9.69 and a 52-week high of $12.63.

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

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $1.23 annualized dividend and a yield of 10.74%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 75.93%.

Analyst Ratings Changes

Several brokerages have commented on PFLT. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, August 12th. JMP Securities dropped their target price 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. Finally, StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

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.