Wilmington Savings Fund Society FSB Makes New Investment in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Wilmington Savings Fund Society FSB purchased a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,363 shares of the asset manager’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFLT. Sound Income Strategies LLC lifted its position in PennantPark Floating Rate Capital by 11.5% during the third quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock valued at $34,285,000 after acquiring an additional 306,690 shares during the last quarter. Millennium Management LLC boosted its position in shares of PennantPark Floating Rate Capital by 391.3% in the 2nd quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock worth $9,046,000 after purchasing an additional 624,342 shares in the last quarter. Van ECK Associates Corp grew its stake in PennantPark Floating Rate Capital by 22.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after buying an additional 330,731 shares during the last quarter. Strategic Financial Concepts LLC increased 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 valued at $81,000 after buying an additional 642,706 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in PennantPark Floating Rate Capital in the second quarter valued at about $1,769,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $10.68 on Monday. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.63. The business’s 50 day moving average price is $11.19 and its 200 day moving average price is $11.32. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. The firm has a market cap of $888.90 million, a P/E ratio of 7.47 and a beta of 1.66.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.1025 per share. The ex-dividend date is Monday, December 16th. This represents a $1.23 annualized dividend and a dividend yield of 11.52%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 86.01%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PFLT shares. Raymond James began coverage on PennantPark Floating Rate Capital in a research note on Friday. They set a “market perform” rating on the stock. StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 25th.

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.