Denali Advisors LLC Sells 15,651 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Denali Advisors LLC decreased its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,430 shares of the asset manager’s stock after selling 15,651 shares during the period. Denali Advisors LLC owned approximately 0.08% of PennantPark Floating Rate Capital worth $693,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital in the third quarter valued at $39,000. Sigma Planning Corp bought a new stake in PennantPark Floating Rate Capital in the fourth quarter worth $119,000. Jmac Enterprises LLC purchased a new position in PennantPark Floating Rate Capital during the third quarter worth $120,000. Mirae Asset Global Investments Co. Ltd. bought a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $131,000. Finally, Blue Trust Inc. purchased a new stake in shares of PennantPark Floating Rate Capital in the fourth quarter valued at $136,000. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Down 0.3 %

PFLT stock opened at $11.18 on Thursday. The firm’s fifty day moving average is $11.08 and its 200 day moving average is $11.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital Ltd. has a one year low of $10.28 and a one year high of $12.02. The firm has a market cap of $982.91 million, a PE ratio of 7.98 and a beta of 1.65.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a yield of 11.01%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PFLT shares. StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James started coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating on the stock.

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.