Advisors Asset Management Inc. Has $3.41 Million Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Advisors Asset Management Inc. boosted its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 312,160 shares of the asset manager’s stock after buying an additional 30,534 shares during the period. Advisors Asset Management Inc. owned about 0.38% of PennantPark Floating Rate Capital worth $3,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth about $39,000. Investment Partners LTD. purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $109,000. Sigma Planning Corp purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $119,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $131,000. Finally, Blue Trust Inc. purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $136,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

PFLT has been the topic of several research analyst reports. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James initiated coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Trading Down 0.0 %

Shares of NASDAQ PFLT opened at $11.12 on Friday. The stock has a market cap of $977.63 million, a price-to-earnings ratio of 7.94 and a beta of 1.67. The business has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $11.22. 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.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.1025 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.23 annualized dividend and a dividend yield of 11.07%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

PennantPark Floating Rate Capital Company Profile

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.