Cambridge Investment Research Advisors Inc. Buys 1,946 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Cambridge Investment Research Advisors Inc. grew its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Rating) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,229 shares of the asset manager’s stock after purchasing an additional 1,946 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.07% of PennantPark Floating Rate Capital worth $309,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PFLT. UBS Group AG raised its holdings in PennantPark Floating Rate Capital by 138.0% in the 2nd quarter. UBS Group AG now owns 128,415 shares of the asset manager’s stock worth $1,474,000 after purchasing an additional 74,460 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of PennantPark Floating Rate Capital by 2.9% in the 2nd quarter. Sound Income Strategies LLC now owns 2,451,644 shares of the asset manager’s stock worth $28,145,000 after buying an additional 68,304 shares during the period. Banque Pictet & Cie SA purchased a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter worth about $302,000. Pictet North America Advisors SA purchased a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter worth about $302,000. Finally, Advisors Asset Management Inc. grew its position in shares of PennantPark Floating Rate Capital by 12.5% in the 1st quarter. Advisors Asset Management Inc. now owns 234,366 shares of the asset manager’s stock worth $3,166,000 after buying an additional 25,963 shares during the period. 21.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of PennantPark Floating Rate Capital in a research report on Wednesday, October 12th. They issued a “sell” rating on the stock.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT stock opened at $12.12 on Friday. PennantPark Floating Rate Capital Ltd. has a one year low of $9.43 and a one year high of $14.38. The company’s 50-day moving average is $11.33 and its 200 day moving average is $11.50. The company has a market capitalization of $549.59 million, a price-to-earnings ratio of 134.67 and a beta of 1.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.12 and a current ratio of 0.12.

PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) last announced its quarterly earnings data on Wednesday, November 16th. The asset manager reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). PennantPark Floating Rate Capital had a net margin of 3.28% and a return on equity of 9.48%. The firm had revenue of $28.79 million for the quarter, compared to analysts’ expectations of $27.04 million. Sell-side analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.21 EPS for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 1st. Investors of record on Thursday, January 19th will be given a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 9.41%. The ex-dividend date is Wednesday, January 18th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 1,266.67%.

PennantPark Floating Rate Capital Company Profile

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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.